On the go: Alstom UK’s Common Investment Fund has appointed Mercer to provide fiduciary management services for three of its defined benefit schemes with assets totalling £1.6bn.
The trustee selected Mercer following a review of its in-house asset management arrangements. PwC advised on the appointment.
Mercer will provide portfolio management, operational and implementation support to help deliver the trustees’ long-term objectives, the company said.
Ken Brundle, chair of the Common Investment Fund, said: “After an exhausting and highly competitive tender process we have selected Mercer as our fiduciary manager.
“We believe Mercer is best placed to help us move through the next part of our journey for these schemes. Key to their appointment was recognising their flexible and collaborative approach to help us design and implement our specific journey.”
According to Dan Melley, partner and head of UK investments at Mercer, added that the appointment “reconfirms the momentum we have seen in the market of £1bn-plus schemes reconsidering their governance approach. We expect to see this trend continue”.
This article originally appeared on MandateWire.com
