On the go: The AkzoNobel Benefit Builder, which closed to future contributions in October last year, has transferred the majority of its assets to a defined contribution master trust with Mercer.
While the majority of assets have been transferred, “a small number of members with investments in the M&G Property Fund will retain assets for a short time beyond the transfer”, a message on the scheme’s website read.
Previously, the scheme ran three fund ranges for members, the LifePath Capital, LifePath Flexi and LifePath Retirement, each with its own investment strategy.
The Mercer Master Trust runs three lifestyle strategies, the Target Drawdown Path, Target Annuity Path and Target Cash Path.
Each fund invests in the Mercer Growth Fund and the BlackRock Institutional Sterling Liquidity Fund.
The Target Drawdown Path also invests in the the Mercer Diversified Retirement Fund, the Target Annuity Path invests in Legal & General Investment Management’s Pre-Retirement Fund, and the Target Cash Path invests in the BlackRock Aquila All Stocks Corporate Bond Index Fund as well.
The trustee was advised on the transfer by Linklaters, while Willis Towers Watson acts as the fund’s general investment consultant.
This article originally appeared on Mandatewire.com
