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July, 2012

July, 2012. UMA Trading Subcommittee. Table of Contents. Overview Trading Process for UMA UMA Investment Roles UMA Messages. Overview.

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July, 2012

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  1. July, 2012 UMA Trading Subcommittee

  2. Table of Contents Overview Trading Process for UMA UMA Investment Roles UMA Messages

  3. Overview • The following slides are based upon the discussions during the MASS UMA Trading Sub-committee meeting of June 22, 2012. They are intended to capture the sense of the discussion and to serve as documentation of key concepts for use as references for subsequent discussions. Additions and amendments are invited. • The objective of the meeting was to identify the types of messages and communication between money manager and sponsor to facilitate UMA programs. The following areas are offered to clarify discussions: • Trading Process for UMA • The trading process for UMA’s is distinct from that of SMA’s. Additional processes for hybrid UMA’s, those with mutual funds or assets requiring different trade and/or data flows should be developed. Points in the processes where messages should be exchanged are suggested. • UMA Investment Roles • The responsibilities of each role differs depending upon the structure of the UMA program and are presented by type of UMA. • UMA Messages • An initial list of UMA messages organized by business process is presented.

  4. Sponsor of Program 2 • Sponsor of Program 3 Trading Process for Models-Only UMA Highlighted text indicates a possible message.

  5. UMA Investment Roles

  6. UMA Messages

  7. Contacts R. Scott Quade Manager 650 Fifth Avenue 30th Floor New York, NY 10019 Mobile: +1 201 927 7673 Fax: +1 212 521 0201 scott.quade@kurtsalmon.com www.kurtsalmon.com

  8. Kurt Salmon, 650 Fifth Avenue, 30th Floor New York, NY, 10019, USA P +1 212 521 0221 F +1 212 319 9476 www.kurtsalmon.com

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