XTP Increases Net Performance and
Reduces Information Asymmetry

Our mission is to support institutional investors in
safeguarding their interests

What does XTP offer?

XTP combines empirical capital market research and long-standing practical experience in the various domains of institutional asset management for supporting institutional investors in safeguarding their interests. Using bottom-up forensic analysis and systemic “big data” scrutiny across all asset classes, the following objectives are achieved consecutively. The result is a risk-free additional net return by means of an increase in process efficiency and optimized cost structures – without changes to asset allocation or manager mix.

Transparency

regarding cost and process efficiency

as well as operational risks

across the entire value chain

Best Practices

through comprehensive benchmarking,

peer reviews and

state-of-the-art processes

Optimization

of explicit & implicit costs,

processes and

implementation structures

What is XTP’s approach?

Typical cost-measures, for example the Total Expense Ratio (TER), form only part of the overall costs. Inefficiencies in implementation and execution do not become transparent.

Creating full transparency is a prerequisite for any optimization. Starting with headline explicit costs typically included in standard reporting, our analysis and investigation uncovers the total cost of ownership, including full transparency on implicit and hidden costs.

Following the analysis phase, XTP identifies and recommends measures that optimize costs and make the implementation process more efficient. Then, with the client’s consent, XTP implements and realizes tangible improvements.

Transparency is critical for efficiency improvement

Analysis of headline costs alone is not sufficient to understand the total cost of an investment portfolio. For full transparency, a more comprehensive approach is needed. To ensure tangible results, XTP takes responsibility for the implementation of optimization measures.

What makes XTP unique?

XTP analyzes and optimizes the entire value chain of asset management holistically without conflicting interests, performing a meticulous and systematic bottom up analysis of over 180 cost elements. This approach differs from traditional providers:

  • Transaction cost specialists focus only on one part of the value chain, they neglect the interdependency with other cost components and often provide (conflicting) brokerage services.
  • Investment consultants focus on making investment decisions. Their focus is not on cost efficiency and optimized execution and processes.
  • Typically, advisors specialize in either traditional asset classes or alternatives, not the whole spectrum.

XTP gives more than theoretical advice and reporting. XTP actively implements the findings on clients’ behalf and provides active and comprehensive implementation of the unearthed optimization potential.

“The whole is greater than the sum of its parts”

Aristotle

Why is implementation efficiency important and what is the value added?

In a challenging market environment with historically low returns and interest rates, institutional investors face increasing challenges to meet their liabilities, stakeholders’ expectations and fiduciary responsibilities. Therefore, the highest standards in transparency, proven execution efficiency and constant optimization & reduction of costs are paramount to success.

According to a study of the Dutch Central Bank 20 basis points cost reduction increase pensions by 6.46 %.

Assumption: 40y contribution, 20y benefit period

For over a dozen years, XTP provided its institutional investor client base a fully aligned solution, resulting in annually reoccurring savings between 5 and 50 bps.

XTP’s clients are available for reference checks on request.

How does XTP work?

XTP works independently, systematically and rigorously, incorporating XTP’s proprietary data engine and team of forensic analysts. XTP puts the highest emphasis on data accuracy – transaction-by-transaction, cost-item per cost-item. XTP continuously maintains the uncompromised view of an independent third party across the entire value chain, all providers and interfaces. By combining detailed scrutiny and clear view of the “big picture” XTP provides clients with new insights and approaches to increase implementation efficiency.

Clear focus

Increasing implementation efficiency and optimizing the implementation process is the exclusive focus of XTP.

Aligned interests

Success oriented compensation based on actually realized savings/improvements ensures compatibility of incentives. XTP only works on mandates if a significant added value can be generated. XTP’s clients bear no cost risk.

Transparency and results-orientation

Transparency resulting from independent analysis is the basis for efficiency, identification and minimization of operational risks, high quality governance, optimized processes and maximized net portfolio return.

How XTP’s analysis identifies inefficiencies and operational risks?

XTP performs a meticulous qualitative and quantitative analysis across the entire value chain and across all asset classes. Special attention is paid to points of interaction and dependencies. The optimization potential is verified against the background of already analyzed assets of more than $2.5tn.

Benchmarking of explicit costs and fees

e.g. management and performance fees, brokerage, custody, other costs and expenses

Analysis of
implicit costs

e.g. mark-ups, spreads, market impact, valuation of derivatives

Identification of structural leaks and deficits

e.g. inefficient structures and processes, opportunity costs, cross-subsidies

Review of
operational risks

e.g. inappropriate procedures and processes, disincentives, insufficient reconciliation

Who are the persons behind XTP?

Jannik Ahlefeldt-Laurvig

Associate Partner

Jannik Ahlefeldt-Laurvig

Associate Partner

  • Analytics and negotiations
  • Former Administration Lehman Brothers Europe (settlement negotiations)
  • Former Executive Director Goldman Sachs (Fixed Income, Currencies, Commodities)

Marc Becker

Partner, Head Analytics

Marc Becker

Partner, Head Analytics

  • Lead analytics team
  • Peer-group studies since 2008
  • Lead development proprietary database and software

Anna Dayn

Managing Partner, XTP United States

Anna Dayn

Managing Partner, XTP United States

  • US markets, analytics and negotiations
  • Lead private equity
  • Former Head Cardano private equity (UK, NL, US)

Dr. Nikolai Dördrechter

Partner

Dr. Nikolai Dördrechter

Partner

  • Lead operations, business process optimization
  • Analytics, negotiations and business development
  • Former Managing Director and Co-Founder Policen Direkt-Group and Partner Private Equity and M&A at Oliver Wyman

Michael Fuß

Partner

Michael Fuß

Partner

  • Client relationship and negotiations
  • Former Managing Director institutional asset management Deutsche Bank
  • Background in trading, administration and distribution

Philipp Henrich

Partner

Philipp Henrich

Partner

  • Lead corporate matters, financials and strategy
  • Development methodology, analytics
  • Negotiations and development optimization strategies

Prof. Lutz Johanning

Partner and board member

Prof. Lutz Johanning

Partner and board member

  • Methodology, research and empirical analysis, regulatory affairs
  • Holder of the Chair of Empirical Capital Market Research at WHU – Otto Beisheim School of Management
  • Member of the Consultative Expert Group for the European Supervisory Authorities (ESMA, EBA, EIOPA).

Dr. Christian Katz

Partner and board member

Dr. Christian Katz

Partner and board member

  • Expert for transaction costs and trading venues
  • Former CEO of Swiss Stock Exchange
  • Former Goldman Sachs and JP Morgan (securities and derivatives)

Wolfram Klingler

Partner

Wolfram Klingler

Partner

  • Analytics, development optimization strategies, lead negotiations and alternative investments
  • Strategy, international expansion
  • Former Clearsight (private equity) and GAM (hedge funds)

Dr. Achim Lutz

Partner and board member

Dr. Achim Lutz

Partner and board member

  • Expert for real estate investments
  • Former Managing Director German real estate asset manager
  • Former capital markets lawyer at Shearman Sterling

Arndt Völkle

Partner and board member

Arndt Völkle

Partner and board member

  • Expert for valuation of derivatives and complex securities as well as execution processes
  • Managing Director of EDG and CTO of vwd

Further professionals

Further professionals

  • Data- and quantitative analysts
  • Software engineers

Who is XTP looking for?

As an employee you receive a fundamental training on the job and a unique insight into the financial markets industry. You will experience a dynamic environment, allowing you to develop your professional skills as well as personal advancement.

We are looking for:

Senior .NET Application Developer (m/f)

detailed job description

Junior .NET Developer (m/f)

detailed job description

Business & Strategy Development Manager (m/f)

detailed job description

Management Assistant (m/f)

detailed job description

Project Manager Real Estate-Analysis (m/f)

detailed job description

Analyst Real Estate-Analysis (m/f)

detailed job description

Analyst in the division of Investment Consulting (m/f)

detailed job description

Project Manager Private Equity-Analysis (m/f)

detailed job description

Analyst Private Equity – Analysis (m/f)

detailed job description

Work Student Fin/RegTech (m/f)

detailed job description

Contact

GERMANY

Michael Fuß
+49 (69) 76 80 750

Office:
Bockenheimer Landstraße 66,
60323 Frankfurt am Main,
Germany

Philipp Henrich
+49 (8171) 38 49 986

Office:
Am Poign 4,
82515 Wolfratshausen,
Germany
SWITZERLAND / UNITED KINGDOM

Wolfram Klingler
+41 (44) 58 65 225

Office:
Bahnhofsstraße 28b,
8808 Pfäffikon,
Switzerland
SCANDINAVIA

Jannik Ahlefeldt-Laurvig
+41 (44) 58 65 226

AMERICAS

Anna Dayn
+1 (646) 48 00 509

Office:
50 Main St,
Suite 1000,
White Plains NY 10606,
USA

© XTP Institutional GmbH

Imprint

Legal Disclosure

Information in accordance with section 5 TMG

REPRESENTED BY

Philipp Henrich

Wolfram Klingler

CONTACT
Telephone:

+49 (8171) 38 49 986

E-Mail:

info@xtp-group.com

Web:

www.xtp-group.com

REGISTER ENTRY
Entry in  Handelsregister
Register Number:

HRB 216782

Register Court:

Amtsgericht München

VAT NUMBER
VAT indentification number in accorance with section 27 a of the German VAT act:

DE 277182060

Disclaimer

Accountability for content

The contents of our pages have been created with the utmost care. However, we cannot guarantee the contents’ accuracy, completeness or topicality. According to statutory provisions, we are furthermore responsible for our own content on these web pages. In this context, please note that we are accordingly not obliged to monitor merely the transmitted or saved information of third parties, or investigate circumstances pointing to illegal activity. Our obligations to remove or block the use of information under generally applicable laws remain unaffected by this as per §§ 8 to 10 of the Telemedia Act (TMG).

Accountability for links

Responsibility for the content of external links (to web pages of third parties) lies solely with the operators of the linked pages. No violations were evident to us at the time of linking. Should any legal infringement become known to us, we will remove the respective link immediately.

Copyright

Our web pages and their contents are subject to German copyright law. Unless expressly permitted by law (§ 44a et seq. of the copyright law), every form of utilizing, reproducing or processing works subject to copyright protection on our web pages requires the prior consent of the respective owner of the rights. Individual reproductions of a work are allowed only for private use, so must not serve either directly or indirectly for earnings. Unauthorized utilization of copyrighted works is punishable (§ 106 of the copyright law).

Picture credits

©MissPassionPhotography/Thinkstock/#516987768
©violetkaipa/Thinkstock/#174381855
©Natalia Lukiyanova/Hemera/Thinkstock/#100762783
©fpm/iStock/#173684243