UK - Manager-of-manager Northern Trust has won 18 new pension fund clients worth over £400m in the last 12 months.
And it has established three “strategic partnerships” taking its total manager-of-manager assets under management to £750m.
Northern Trust’s MoM range sits on Prudential’s DC platform and it has also set up two ring-fenced MoM funds for Scottish Equitable and established its MoM range on Lifetime’s pension investment platform.
Northern Trust’s new clients include £50m from the Timet UK Limited Pension Plan, £20m from the West Bromwich Building Society Staff Retirement Benefit Scheme and £12m from the Birmingham International Airport Limited Pension Scheme.
Northern Trust MoM European managing director Tony Earnshaw said:
“Winning all of these new clients is a great endorsement of our product, process and people.”
Head of UK business development Amit Popat said: “More UK schemes then ever before are considering the manager-of-managers approach as a way to add value to their portfolios. We are finding there is an increased interest from larger pension schemes for MoM solutions. Our success over the last year is down to our strong research process and successful performance.”
Separately, the MoM provider has gone live with a new high alpha UK equity fund. The underlying managers are Mira-baud Asset Management and Majedie Asset Management.
Northern Trust said it was close to securing scheme mandates worth £30m and £20m respectively.
The provider has also seen substantial growth in its four UK fixed income funds over the last 12 months rising from £36m to £108m.
The HSBC Bank UK Pension Scheme is to invest £250m in renewable energy infrastructure, such as solar plants and wind farms, with Greencoat Capital.
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