IPC Media Pension Scheme, which has assets of about £600 million (€508 million), has appointed BlackRock as its fiduciary manager.
BlackRock will advise and help design the scheme’s strategic asset and provide trustee advice, training and support.
The mandate includes open architecture manager search, selection and de-selection and complete implementation services across all asset classes.
Susan Andrews from Ross Trustees, chair of IPC Media Pension Trustee Limited, said: “Appointing a fiduciary manager was a big step for us, but the trustee and scheme sponsor were convinced that in a changing environment this was the right time and an appropriate way to change how we manage the scheme’s investment arrangements.”
The appointment follows an open market selection process.
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