The £1bn Merchant Navy Ratings Pension Fund has appointed Schroders Solutions as its fiduciary manager, replacing WTW, which was appointed in 2014.
Schroders will be responsible for evolving and implementing the fund’s investment strategy, including access to Schroders’ suite of services including Liability-Driven Investment (LDI), buy and maintain credit, and structured equity. It will also entail absorbing and aligning the fund’s existing private markets portfolio.
Doug Ross, chair of the trustee, MNRPF, said: “During the very competitive selection process, the trustee learned that there were high quality alternatives on a par with our current provider.
“Leaving WTW was a very tough decision for the trustees to make, particularly given the broader relationship they have with the fund and the excellent service that they have provided over the years, but we were unanimous in this decision.”
Schroders Solutions manages £117 billion in outsourced investment and fiduciary management solutions globally.
