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.
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.
"The CMA Order for trustees to set Strategic Investment Objectives by 10th December 2019 for their investment advisers is a “game changer”.
The setting of clear objectives will result in trustee boards then wanting to measure success and judge value for money. At a time when covenant and funding are under severe pressure investments become more central and investment governance is something DB trustees/sponsors can improve. Research shows good governance can add 1-2% pa to returns.
Given the Covid-19 disruption there will be real benefits for Trustees starting this sooner than later. After all ‘What gets measured gets done’.”
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Published in IPE - 27 November 2019 by
The £4bn (€4.7bn) UK Power Networks Group of the Electricity Supply Pension Scheme (ESPS) has appointed BlackRock as fiduciary manager, following a competitive tender process run by IC Select.