Parametric Completes Acquisition of Clifton

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Published on December 31, 2012

December 31, 2012 – Parametric Portfolio Associates LLC (Parametric), a subsidiary of Eaton Vance Corp. (NYSE: EV), and The Clifton Group Investment Management Company (Clifton) announced today the completion of the previously announced purchase of Clifton by Parametric.

For additional information, see the Press Release below:

Clifton Combines with Parametric

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Published on November 12, 2012

We are pleased to inform you that Parametric Portfolio Associates LLC (Parametric) has agreed to acquire the business of The Clifton Group Investment Management Company (Clifton) in a transaction that is anticipated to close on or about December 31, 2012. 

Parametric is a Seattle-based investment management firm focused on the delivery of rules-based, risk-controlled strategies, including engineered alpha-seeking portfolios, options strategies and customized equity and centralized portfolio management implementation services. As of September 30, 2012, Parametric managed $53.1 billion of client assets.  Parametric is a majority-owned subsidiary of Eaton Vance Corp., one of the oldest investment management organizations in the U.S., with a history dating back to 1924.  As of September 30, 2012, Eaton Vance and its controlled affiliates had assets under management of $198.2 billion. 

Clifton is currently owned 80% by non-employee shareholders and 20% by Clifton’s three principals: Chief Investment Officer Jack Hansen, Senior Portfolio Manager Tom Lee and Managing Principal Kip Chaffee.  Each Clifton principal will receive equity in the combined firm and will continue in his current role pursuant to a long-term employment agreement entered into at closing.  It is expected that an additional group of Clifton employees will also become equity holders in the combined firm.  Clifton will operate as a division of Parametric, with Kip Chaffee reporting to Brian Langstraat, Parametric’s Chief Executive Officer, and Jack Hansen retaining responsibility for leading Clifton’s investment function.  Clifton will continue in its current location in the Minneapolis area and no changes in Clifton personnel are expected as a result of the transaction. 

Clifton and Parametric share a focus on partnering with clients to help achieve return objectives and manage risk.  Clifton’s strengths in overlay management and custom risk-management solutions complement Parametric’s existing capabilities.  With Clifton joining the Parametric family, we believe our ability to help clients meet these goals will be significantly enhanced. 

Please contact Clifton to further discuss any questions you may have regarding this exciting news.

The New Role For Commodity Indexes

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Published on July 11, 2012

Jack Hansen, CFA, Chief Investment Officer/Principal, and Jeff Rodgers, CFA, Portfolio Manager of Clifton, were quoted in OpenMarkets, a publication of CME Group.  Read more in the article:  The New Role For Commodity Indexes.

Clifton Senior PM presents at CBOE Risk Management Conference

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Published on March 11, 2012

Jay Strohmaier, CFA, Senior Portfolio Manager at Clifton delivered a presentation at the CBOE Risk Management Conference. Jay sat down with CBOE TV to discuss his presentation "The Case For Selling Options - Using Options to Enhance Return and Dampen Volatility." To view the interview click the image below.

Read more in the CBOE Blog: The Clifton Group and the Value Added by the Insurance Risk Premium

San Joaquin hires Clifton to run a risk-parity strategy

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Published on February 22, 2012

San Joaquin County Employees’ Retirement Association, Stockton, Calif., hired The Clifton Group to run a risk-parity strategy for their plan. - View the P&I article for details

NYSE Liffe Clifton Customer Q&A

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Published on February 10, 2012

Clifton was included in the inaugural issue of the NYSE Liffe U.S. mini MSCI futures report - View this issue's Customer Q & A with Senior Portfolio Manager, Justin Henne, CFA

Clifton Senior PM presents at IMN Super Bowl of Indexing

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Published on December 06, 2011

Justin Henne, Senior Portfolio Manager, presented at the 2011 Super Bowl of Indexing.  He discussed how using a quantitative based overlay program can reduce plan inefficiencies which should increase expected return while reducing plan tracking error.

Article published in Investment & Wealth Monitor

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Published on November 27, 2011

"Shifting the Investment Paradigm" article was published in Investment & Wealth Monitor, Nov/Dec 2011 edition - View the article written by Senior Portfolio Manager & Principal, Tom Lee, CFA

aiCIO Award - Tactical Risk Management

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Published on September 26, 2011

aiCIO Announced the 2011 Asset Management/Servicing Award Winners and Clifton won in the Strategy & Tactics (Tactical Risk Management) category. - Read more in the aiCIO announcement

Quoted in Nonprofit News

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Published on September 06, 2011

Tom Lee, CFA, Senior Portfolio Manager & Principal at Clifton was quoted in an article in Nonprofit News.  Read more in the article:  Hybrid Equity Strategies Generating Interest As Institutions Look To Increase Downside Protection