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Competitive tendering of Fiduciary Managers, investment delegation and oversight
IC Select were pleased to contribute to this excellent report by Clear Path Analysis into investment governance matters affecting DB pension arising from the CMA Orders and other regulatory guidance.
Published in April 2021, we draw attention to the opening interview by Carolyn Saunders, Partner and Head of Pensions at Pinsent Masons, which looks at Competitive Tendering of Fiduciary Managers.
At a time when DB investment adviser market reviews and oversight is near all-time lows it was refreshing to read Carolyn’s views on the value and importance for DB trustees to properly review their investment adviser and on the growing impact of ESG.
Quoting from the report, Carolyn comments:
“If trustees understand the wider market, they can challenge their own thinking and their incumbents’ thinking on their investment strategies.”
“Trustees now need to have a very clear line of sight and understanding of what is happening in relation to their investments and particularly in relation to ESG”.
In the roundtable debate, Anne-Marie Gillon, Head of Research at IC Select, acknowledges the strain on DB trustees and the need to delegate more of the investment complexity to the investment professionals. And in measuring the success of your investmentc adviser Anne-Marie and other contributors note that investment advisers:
“….should never ‘mark their own homework’ and independent evaluation of performance is very important.”