A Schroders Solutions client has agreed a c£400 million buy-in, securing the benefits of some 5,000 pension fund members.
Schroders Solutions has been working with the Trustee of the TT Group (1993) Pension Scheme, which oversees the pension assets of TT Electronics plc, a global provider of design-led, advanced electronic technologies in aerospace and defence, healthcare and automation and electrification markets.
This was the culmination of Schroders Solutions’ 15-year relationship with the Scheme, where robust investment strategy advice and swift implementation has been combined with a collaborative working relationship with its other advisors to deliver the Scheme to end-game. The full buy-in, which was advised by Mercer, was completed with Legal & General.
Ajeet Manjrekar, Head of UK Client Solutions, Schroders Solutions, said:
“Over the long term Schroders Solutions has been dedicated to working intensively and collaboratively with the Trustee, TT Electronics and Kevin Pither, the Scheme’s Actuary, to drive funding growth towards its end-game. From the outset we were focused on implementing a high level of risk management, while also looking to generate consistent growth by accessing a wide range of investment opportunities. As we approached the Scheme’s end-game, we moved to de-risk, culminating in the delivery of a ‘price lock portfolio’; which was instrumental in securing the transaction.”
Paul Felbeck, Chair of the Trustee Board, said:
“Schroders Solutions has delivered excellent strategic advice and strong asset performance over the past 15 years – supporting our ability to secure our members’ benefits and, at the same time, guiding our investment portfolio towards a desirable end-game strategy. What was fundamental to the Scheme’s success was Schroders Solutions’ consistent, insightful and trusted advice, coupled with its focus on risk management and the swift implementation of its investment views. Schroders Solutions has always provided invaluable services to the Trustee, enabling it to manage risk pro-actively and make informed decisions through all economic cycles of financial markets.”
Schroders Solutions, was created following the acquisition of River and Mercantile Group’s UK Solutions division which was completed in February 2022.
It aims to be the provider of choice for fiduciary management and derivative-led risk management by offering an end-to-end solution through to buy-in with a specific focus on sustainability, climate integration and reporting.
Earlier this year, Schroders Solutions was named ‘Fiduciary Management Firm of the Year’ at the Pensions Age Awards 2022.