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For DB schemes, assessing fiduciary managers by comparing their growth funds grossly misses the point – to outperform liabilities – of these mandates, IC Select’s Anne-Marie Gillon explain how the performance of fiduciary managers should be assessed.
Press Release:IC Select make another senior hire
Edinburgh, 10th June 2020 – IC Select, the specialist fiduciary management selection and oversight firm, has appointed Anne-Marie Gillon as director of the company to boost its client facing services.
Anne-Marie has joined after a 22-year career as an investment professional at Baillie Gifford. The past 12 years she focused on fixed-income and multi-asset products. In addition, Anne-Marie is a CFA charterholder as well as a trustee, currently at the Royal Blind Group pension scheme, which enables her to understand the intricacies and challenges that pension schemes face
Press Release:IC Select launches Fiduciary Management re-tendering solution
Edinburgh, 11th June 2020 – IC Select, the independent specialist fiduciary management selection and oversight firm, has launched a three-tiered solution to help trustees who are required to re-tender before the CMA deadline of 10 June 2021
Managing cost, resource allocation and, critically, the proportionate time to be allocated to this task will be paramount. Additions to these challenges arise when access to unbiased and accurate information is cumbersome and hard to find.
This webinar presentation below looks at the importance of addressing Strategic Investment Objectives in the wake of Covid-19 and in line with the CMA Order which required DB trustees from 10th December 2019 to set clear objectives for their investment advisers, whether an investment consultant or fiduciary manager. We have split the recording into two parts i.e. the introduction and presentation, then the Q & A.
Introduction and Presentation
Covid-19 has put funding and covenant under pressure although it is something trustees can do little to influence. Therefore it becomes even more important to get the most from your investments and having clear and effective strategic investment objectives is an essential element in achieving this.
In addition, The Pensions Regulator's guidance says trustees should be reviewing their current investment and governance arrangements to ensure they remain appropriate to enable decisions to be made quickly.
TPR’s guidance recommends that schemes:
• State objectives that take account of the scope of investment services offered
• Use balanced scorecards to evaluate investment advice
• Understand that it is against the spirit of the order for investment consultants or fiduciary managers to set and measure their own objectives
What should these objectives look like, how will they be measured, how often and what happens next?
What You’ll Learn
• Regulatory background to the order to set and assess clear strategic investment objectives
• How this will work, for example the balanced scorecard, measurement and assessment process and the benefits for trustee boards
• How to ensure that all objectives are Relevant, Achievable, and Measurable
Suitable for - Defined Benefit (DB) pension scheme trustees, chairs, sponsors and other stakeholders
Martin brings 40 years of experience to the defined benefit (DB) investment governance specialists, having worked in previous pensions roles for blue-chip multinational companies. These include as global benefits director at Tetra Pak, head of pensions and benefits at Royal Bank of Scotland, and vice-president of pensions at DHL.