The trustee of the Grant Thornton Pensions Fund has appointed Cardano as its new fiduciary manager, following a aggressive tender course of.
In its function as fiduciary manager, Cardano will present providers together with funding recommendation, funding administration and danger administration for the scheme’s £250m of belongings.
This may embrace a selected deal with precisely matching liabilities via a segregated liability-driven funding (LDI) mandate, whereas delivering regular returns via a “dynamically managed” progress portfolio.
Commenting on the appointment, Grant Thornton Pensions Fund chair of trustees, Carl Williams, stated that whereas earlier experiences had left the trustee not sure if fiduciary administration was proper for them, “after assembly the Cardano group, it was clear that fiduciary administration was what we would have liked and so they have been the correct group for us”.
“They have been efficient in participating with our trustee board, and it’s already clear that we’ll be getting top quality recommendation and repair, alongside their funding capabilities,” he acknowledged.
“Their shopper references have been very spectacular, and the sleek and cost-effective onboarding has been an early validation of our determination to nominate them.”
Including to this, Cardano shopper director, Steve Berkovi, stated: “We’re delighted to have been appointed by the trustee board.
“We are able to already see this can be an important match and are very happy with the connection constructed to this point.
“With the belongings efficiently transitioned, we sit up for working with the trustee, the principal employer and different advisors to assist safe members’ advantages.”
The principal employer for the scheme, Grant Thornton UK LLP, specialises in offering skilled providers to companies, public sector and not-for-profit organisations.
