Nearly of a quarter of pension schemes required to retender their fiduciary manager had not started the process as of last month, says XPS Pensions Group.
Fiduciary managers maintained their investment strategies across 2020 despite high market volatility and some hair-raising losses during the first quarter, XPS Pensions Group research finds.
With under three-quarters of a year left for retendering exercises to be completed, capacity issues could arise and reduce choice, writes James Phillips.
The fiduciary managers that made the strongest gains through high equity allocations in 2019 also sustained the biggest losses during the first quarter of 2020, research by XPS Pensions reveals.
There was a 12 percentage point difference in the growth portfolio performance of the best and worst performing fiduciary managers in 2019 and over a third underperformed the average diversified growth fund, research from XPS Pensions Group reveals.
XPS Investment has unveiled a report looking at fiduciary manager performance over the last year and the longer term. Kim Kaveh looks at its findings.