The Trustee of IPC Media Pension Scheme has appointed BlackRock as its fiduciary manager for scheme assets of around £600million, as of April 2017.
The services provided by BlackRock will include advice, training and support for the Trustees as part of the transition to the new arrangements.
BlackRock will also advise on, and help to design, the scheme's strategic asset allocation, as well as the journey management framework.
Susan Andrews from Ross Trustees, chair of IPC Media Pension Trustee Limited, said appointing a fiduciary manager was a significant decision for the scheme: "It was a big step, 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 its investment capabilities, risk focus and operational robustness."
The mandate will also include open architecture manager search, selection and de-selection and complete implementation services across all asset classes.
At the core of the fiduciary service is BlackRock's holistic investment and risk management platform, which it said provides operational robustness, sophisticated risk management and end to end transparency.
Andy Tunningley, head of UK strategic clients at BlackRock, said: "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 Limited to provide the full scope of our fiduciary services to help adjust their portfolio in the current market environment."
"IPC Media Pension Trustee considers fiduciary management to be a logical step at this juncture in the best interests of the members and their investment governance and trusts BlackRock to be a robust, reliable partner capable of performing this service."
First published 21.08.2017
Lindsay.sharman@wilmingtonplc.com
