Fiduciary management

The trustee of the Merchant Navy Ratings Pension Fund (MNRPF) has appointed Towers Watson to provide fiduciary management services to the £850m scheme.

Russell Investments has appointed Sarah Leslie as head of fiduciary management in the UK and Ireland.

Christy Jesudasan looks at whether trustees need to take an unbundled approach to fiduciary management fees.

The trustees of the £135m AQA Pension Scheme have outsourced its investments to Towers Watson following a competitive fiduciary management tender.

Cai Rees has been made a director in SEI's institutional advice team in the EMEA region where he will advise large pension schemes.

More than one in three schemes that use a fiduciary manager has no formal process to review their relationship according to an annual survey from Buck Consultants at Xerox.

The trustee of the £120m Shop Direct Group Pension Plan has chosen Towers Watson to manage its investment portfolio on a fiduciary management basis.

Almost half of UK defined benefit schemes use a fiduciary manager, according to research from Aon Hewitt.

The trustees of the Lockheed Martin UK Pension Plan have appointed Aon Hewitt to provide delegated investment services.

The British arm of Dutch fiduciary manager MN has been bought by Kempen Capital Management (KCM), a subsidiary of Van Lanschot.