PT - JOURNAL ARTICLE AU - Ross I. McLellan TI - The Choice of Transition Provider DP - 2002 Mar 20 TA - Trading PG - 59--62 VI - 2002 IP - 1 4099 - http://guides.pm-research.com/content/2002/1/59.short 4100 - http://guides.pm-research.com/content/2002/1/59.full AB - The complexity of investment manager and asset allocation changes can overwhelm the operational capacity of a pension plan. The changes can also cause the fund to bear large transaction costs. These two factors have created an industry called transition management that deals with the problems plan sponsors face in these circumstances. This article details the issues surrounding transition management and what a plan sponsor should look for when hiring a transition manager. It looks at the benchmark a transition manager should be held to and what the costs are in transitioning assets. The article also details poorly used benchmarking strategies that are commonly used to measure transition success.