Transition management-it's the term used by custodian banks and other service providers to describe how they move the assets of a pension plan or other plan sponsor from one fund manager to another.

It's typically a routine event, and an uneventful one that could take the transition manager anywhere from several days to several weeks to complete, depending on the size of the book of business and the types of assets involved. That is unless something goes awry, as in the recent case involving State Street Global Advisors and a UK pension plan.

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