National Grid to sell in-house asset manager

National Grid to sell in-house asset manager

STATEMENT REGARDING THE NATIONAL GRID UK PENSION SCHEME

The Board of Trustees of the National Grid UK Pension Scheme has undertaken a thorough review of their investment strategy and of the governance model by which to implement the new strategy most effectively. As part of that review, the Trustees have decided to outsource the management of the Scheme’s assets through a sale of its captive asset management business, Aerion Fund Management.

NGUKPS has appointed Fenchurch to advise on and support a structured process.

In parallel with outsourcing the management of the Scheme’s assets, NGUKPS will be creating a small Executive team of specialists who can support the Trustees in active management of the Scheme’s assets, close monitoring of its liabilities and tight control of investment risks.

The sale of Aerion will have full regard to protecting the assets of the Scheme and will seek to procure the best possible outcome for all stakeholders.

NGUKPS will provide an update on this process when appropriate.

Categories: News, UK Pensions
Tags: Investments

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