Fiduciary management

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.

Sun Chemical Pension Scheme has given fiduciary manager Mercer the axe and handed the £360m mandate to Goldman Sachs Asset Management (GSAM).

Barnett Waddingham has introduced a service to oversee the selection and performance of fiduciary managers from an independent standpoint.

A common criticism of fiduciary management is that trustees can lose control of investment strategy. Christy Jesudasan says this should not be the case.

The financial crisis left the GHG Retirement Plan in real difficulty. However, the scheme is now in a much better funding position thanks to the building of a strong strategic partnership finds Helen Morrissey.

PP looks at the progress made tackling this perennial problem