WYPF is one of a relatively few local authority pension funds that uses stock lending activity to make money for their portfolios. WYPF has its own internal lending desk, and lends securities to the permitted 25% limit of the portfolio.
ARTS is the ideal system for WYPF: itâs very flexible and can be tailored to their exact business needs. Much of what has previously been a manual operation will now be handled in ARTS. WYPF can easily manage their positions, find out what is lendable and check on lending limits.
Stuart Imeson, Head of Pensions and Investments at WYPF, says, "By not using stock lending, pension funds are missing a big opportunity to make money. In the financial year to March 31, 2002, the WYPF earned enough from stock lending to virtually meet the in-house investment costs for managing the fundâs entire Â£4.6 billion investment portfolio. We are very happy with our decision to take ARTS. Anvil have made the installation process as easy as possible for us â dealing with software requirements, helping on hardware and organising integration with other systems."
Malcolm Clark, Director and Strategist an Anvil commented, "Weâre delighted to be working with WYPF. They are the first pension fund to use ARTS. It proves the suitability of the system for both "buy side" and "sell side firms."