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The Clifton Group Becomes Parametric Clifton

We are pleased to inform you that The Clifton Group will officially change our name to Parametric Clifton on January 1, 2014. As previously communicated, The Clifton Group was acquired by Parametric Portfolio Associates, LLC on December 31, 2012. In order to create a more unified identity to Institutional Investors, we have made the decision to combine our name with Parametric’s and become Parametric Clifton.

It is important to note that this name change will not affect the management of portfolios or the overall relationship and client service you have come to expect from Clifton. No action is required on your part.

Please contact your representative at Parametric Clifton to further discuss any questions you may have. We extend our best wishes for a happy new year.

Thank you

 

aiCIO's Beta Equities Industry Innovation Award

aiCIO Announced the 2013 Asset Management/Servicing Award Winners and Clifton won in the Core Investments (Beta Equity) category - Read more in the aiCIO announcement

Parametric Balanced Risk Fund Launched

Parametric Portfolio Associates LLC (“Parametric”), a subsidiary of Eaton Vance Corp. (NYSE:EV), today announced the launch of Parametric Balanced Risk Fund (Class A: EAPBX, Class I: EIPBX), a mutual fund that seeks its objective of total return utilizing a risk parity strategy. To read the full article click the press release below.

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Clifton's "Understanding Risk Parity" Article Featured for the CME Group

A decade of challenging markets, particularly for equities, has led to growing investor interest around risk parity. In its simplest form, risk parity seeks to balance the contribution to total portfolio risk from each asset class that composes a diversified portfolio. A traditional 60% equity / 40% fixed income portfolio, which is the base of many investors' portfolios, is not diversified. Approximately 90% of the risk in this traditional portfolio is concentrated in equities, due to the fact that historically equities have been three times more volatile than fixed income securities. Risk parity seeks to avoid this concentration of risk through the construction of a more diverse, risk balanced portfolio. Visit the CME Group website to view the full article.

*Once you click for the P&I website link you will be leaving the Parametric Clifton website. “Parametric Clifton” has no further responsibility, liability for information once you have exited this website.

Clifton Published in Investment & Wealth Monitor

Clifton was published in the Investments & Wealth Monitor's publication for the July/August 2013 issue. To read the full article visit Investments & Wealth Monitor's website. http://www.imca.org/investment-current

*Once you click for the P&I website link you will be leaving the Parametric Clifton website. “Parametric Clifton” has no further responsibility, liability for information once you have exited this website.

P&I Webinar Discussing Risk Management With Tom Lee

This webinar explored how preparation and skepticism are essential risk management tools. It also explored how judgement is equally as important as numbers when measuring and managing risk; the crucial distinctions between risk mitigation and risk hedging and the upward trend in investors’ willingness to pursue risk. For more detail and to listen to the full webinar, register by visiting www.pionline.com/Riskwebinar.

*Once you click for the P&I website link you will be leaving the Parametric Clifton website. “Parametric Clifton” has no further responsibility, liability for information once you have exited this website.

MassPRIM expected to hire 2 managers

Massachusetts Pension Reserves Investment Management Board, Boston, will consider hiring FIS Group to run $100 million in active international equities as part of the board's emerging manager-of-managers program, and Clifton to manage a cash overlay strategy, confirmed Eric Convey, spokesman for the $53.2 billion MassPRIM. View the P&I article for details

University of Michigan picks Clifton for overlay

University of Michigan, Ann Arbor, hired Clifton to provide a derivatives overlay strategy on the university's $8.4 billion long-term endowment pool and committed $36 million in two alternative investment strategies. View the P&I article for details

Parametric Completes Acquisition of Parametric Clifton

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

For additional information, see the Press Release below:

clifton-acqusition-press-release-12.31.12 

Clifton Combines with Parametric

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.

press-release-nov.2012

The New Role For Commodity Indexes

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.

Parametric Clifton    |    3600 Minnesota Drive, Suite 325, Minneapolis, MN 55435
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