The trustee of the IPC Media Pension Scheme has appointed BlackRock as fiduciary manager to run around £600m of assets.
As part of its role, BlackRock will advise on and help to design the IPC Media Pension Scheme's strategic asset allocation as well as its journey management framework.
The services provided by BlackRock will also include advice, training and support for the trustee as part of the transition to the new arrangements.
The mandate will also include open architecture manager search, selection and de-selection and complete implementation services across all asset classes.
The appointment followed a open market selection process conducted by IC Select.
IPC Media Pension Trustee chairwoman and Ross Trustees director Susan Andrews said: "Appointing a fiduciary manager was a big step for us, but the trustee and scheme sponsor were convinced that in a changing environment this was the right time and an appropriate way to change how we manage the scheme's investment arrangements.
"BlackRock was appointed after a rigorous selection exercise on the back of their deep investment capabilities, risk focus and operational robustness."
BlackRock head of UK strategic clients Andy Tunningley (pictured left) added: "Fiduciary management services are increasingly sought after by clients in the current environment of low returns, heightened regulatory scrutiny and operational risks.
"We are pleased to have been selected by IPC Media Pension Trustee to provide the full scope of our fiduciary services to help them adjust their portfolio in the current market environment."
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