Vector Pension Scheme, a Schroders Solutions client, has secured a £114 million bulk annuity buy-in with Standard Life, securing the benefits for its 1,800 scheme members.
Schroders Solutions, the £212.1 billion global capability, has a long-standing relationship with the trustees of Vector Pension Scheme, a valued Fiduciary Management client, for over 15 years.
This collaboration, coupled with robust strategic advice and swift implementation enabled the team to manage the journey to buyout with minimal contributions from the sponsor, delivering the scheme to end-game. By using Schroders Solutions in-house segregated LDI the team were able to align the scheme’s assets with a price lock. This also enabled them to transfer gilts in specie, saving transaction costs and reducing the quoted price.
The full buy-in was advised by XPS and completed in November 2023.
Gerard Francis, Head of UK Design and Strategic Risk at Schroders Solutions, said:
“We have an excellent relationship with Vector and we are pleased to have supported the Scheme to endgame on behalf of its members. We monitored buyout funding levels, worked closely with the client and insurer to manage the illiquid assets, ensuring the scheme was well-positioned to act quickly and transact at the opportune time. The groundwork had been done which saved the client transaction costs and ultimately delivered benefits for its members.”
For further information, please contact:
Andy Pearce, Head of Media Relations | +44 20 7658 2203 | |
Rachael Dowers, PR Manager | +44 207 658 2086 |
Note to Editors
For trade press only. To view the latest press releases from Schroders visit: http://ir.schroders.com/media
Schroders Solutions
Schroders Solutions is a £212.1 billion global capability with employees in the UK, US, Singapore, and Germany. Our dedicated solutions experts provide investment and advisory services to public and corporate pension schemes, official institutions, insurance companies, individual investors, intermediaries and wealth providers worldwide. Solving investment problems is integral to what we do. We draw on our knowledge and experience as a global provider to build bespoke investment solutions and strategies. We partner with our clients to understand their investment challenges and construct investment portfolios that deliver their desired financial outcomes. Our consultative approach draws on both Schroders’ investment skills and those of the wider investment industry. Schroders Solutions offers Fiduciary Management, Outsourced CIO, liability, duration and cashflow driven investing, as well as derivatives-based growth strategies. Our solutions are accessible to clients of all sizes through a flexible approach to implementation, sensitive to their needs and objectives.
Source: Schroders as of 30 June 2023.
Schroders plc
Schroders is a global investment management firm with £726.1 billion (€846.1 billion; $923.1 billion) assets under management, as at 30 June 2023. Schroders continues to deliver strong financial results in ever challenging market conditions, with a market capitalisation of circa £7 billion, as at 30 June 2023, and over 6,100 employees across 38 locations. Established in 1804, the founding family remains a core shareholder, holding approximately 44% of Schroders’ shares.
Schroders has benefited from a diverse business model by geography, asset class and client type. It offers innovative products and solutions across four core growing business areas; asset management, solutions, Schroders Capital (private assets) and wealth management. Clients include insurance companies, pension schemes, sovereign wealth funds, high net worth individuals and foundations. Schroders also manages assets for end clients as part of its relationships with distributors, financial advisers and online platforms.
Schroders aims to provide excellent investment performance to clients through active management. It also channels capital into sustainable and durable businesses to accelerate positive change in the world. Schroders’ business philosophy is based on the belief that if we deliver for clients, we will deliver for our shareholders and other stakeholders.
Issued by Schroder Investment Management Limited. Registration No 1893220 England. 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.