News releases

Schroders appointed by Veolia UK Pension Trustees for £880 million fiduciary management mandate

23/05/2017

Schroders has been appointed by Veolia UK Pension Trustees Limited to be the fiduciary manager for their largest defined benefit schemes with a combined asset value of £880 million.

As fiduciary manager, Schroders will provide an integrated solution combining investment strategy advice and implementation.

Schroders was chosen following a competitive tender process facilitated by LCP. Schroders transitioned the assets to the new investment arrangements during the first quarter of 2017.

Peter Harrison, Group Chief Executive at Schroders, commented:

“We are delighted to have been selected to manage the Veolia pension schemes’ investment strategies in a fiduciary management arrangement. The Trustees have adopted a new governance framework that enables swifter decision-making with a specific focus on managing pension fund deficit risk. Fiduciary management is an important and growing business for Schroders that reflects our emphasis on developing tailored solutions to meet clients’ investment needs.”

Robert Hunt, Chairman of Veolia UK Pension Trustees Limited, said:

“The Veolia Trustees look forward to a rewarding partnership with Schroders in the management of the pension scheme assets and our overriding aim of reducing both risk and deficit in the schemes. The professionalism demonstrated by the Schroders team has been a source of great encouragement for the Trustees.”

James Trask, Partner and Head of Fiduciary Management Oversight Services at LCP, commented:

“Finding the right fiduciary manager is hugely important, and we spent time up front with the Veolia Trustees to understand their key objectives for the exercise, as every process is different.  The Trustees invested time and effort in running a full and fair selection process, to find a trusted long-term partner that would understand their objectives and work alongside them.  We were delighted to add our independent expertise to the process.”

For further information, please contact:

Schroders

Andy Pearce, Institutional PR Manager      Tel: 0207 658 2203/ andy.pearce@schroders.com

Estelle Bibby, Senior PR Manager               Tel: 0207 658 3431/ estelle.bibby@schroders.com

 

Note to Editors

For trade press only.  To view the latest press releases from Schroders visit: http://ir.schroders.com/media

 

Schroders Fiduciary Management

For further information about Schroders Fiduciary Management visit

www.schroders.com/fiduciarymanagement

Schroders plc

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Doing this takes experience and expertise. We bring together people and data to spot the trends that will shape the future. This provides a unique perspective which allows us to always invest with conviction. We are responsible for £416.3 billion (€486.7 billion/$520.6 billion)* of assets for our clients who trust us to deliver sustainable returns. We remain determined to build future prosperity for them, and for all of society. Today, we have 4,100 people across six continents who focus on doing just this.

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Further information about Schroders can be found at www.schroders.com.

Issued by Schroder Investment Management Ltd., which is authorised and regulated by the Financial Conduct Authority.  For regular updates by e-mail please register online at www.schroders.com for our alerting service.

*as at 31 March 2017

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