Escher UK Asset Management has appointed Aegon Asset Management as the active fixed interest manager to all its active corporate and conventional bond funds.
Escher UK Asset Management provides multi-manager investment services to occupational pension schemes through its asset management service, launched in September 2000.
Escher has several large corporate clients and pension funds on the UK.Aegon – which currently manages around £13bn in fixed income including more than £11bn in corporate bonds – said the appointment reflects its expertise in fixed income, particularly corporate bonds.
Aegon Asset Management’s head of institutional sales, Mike Craston, said: “This appointment is an important milestone for us. Multi-manager investment services are growing rapidly in the UK, and we are well positioned to be a leading provider of investment management to this market.
“Escher is already well established overseas, and its recently launched operation here promises to be equally successful.
“This year has already been an excellent one for us in terms of institutional mandate wins. In particular, we are seeing huge demand for corporate bonds. As one of the UK’s five largest managers of corporate bonds, we are well placed to meet these needs.”
Escher UK Asset Management managing director Stuart Gordon said: “Fixed interest constitutes a key part of pension fund portfolios, so it is crucial to choose the right manager. Of the managers we looked at, Aegon demonstrated the highest levels of expertise and professionalism.“
By Jeena Nadarajan
The Brunel Pension Partnership has become the fourth local authority pool to receive the green light from the regulator.
Defined benefit (DB) schemes are to be offered a new consolidator as the former chief of the Pension Protection Fund (PPF) launches 'The Pension SuperFund'.
Martin Freeman has been hired as head of technology product and development at Smart Pension, to support the 'growing' technology product side of the business.
Tim Sharp says the government has missed some big opportunities to help workers in the DB white paper.