BNY Mellon has formed a partnership with investment consulting firm Redington to offer its UK pension fund clients an enhanced asset and liability risk reporting service.
The new service allows pension funds to monitor both their funding position on a quarterly basis (based on monthly calculations) and their level of risk exposure, helping fiduciaries and scheme trustees understand how to meet their current and future liabilities.
It also offers analysis of the sensitivity of the scheme’s funding position, providing an insight into how it may be impacted by changes in the external economic environment.
Global investments company BNY Mellon has $1.6 trillion (€1.2 trillion) in assets under management, while London-based Redington has £330 billion (€419.7 billion) in assets under consulting.
Fraser Priestley, head of consulting, global risk solutions for Europe, the Middle East and Africa at BNY Mellon, says: “The depth and breadth of reporting we offer is a key part of our value proposition to the pensions market in terms of helping schemes with the provision of strong governance around their investments.”
Robert Gardner, founder and co-chief executive at Redington, says: “The relationship with BNY Mellon affords us the opportunity to expand iRIS, our risk reporting tool, to more clients. BNY Mellon’s granular data can be uploaded directly into our systems, ensuring our mutual clients receive best in class reporting coupled with thorough analysis.”
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