The ACCESS Pool – A Collaboration of Central, Eastern and Southern Shires composed of 11 local government pension schemes, with assets totalling c.£52bn – is pleased to announce the re-appointment of Waystone as its pool operator.
The re-appointment of Waystone as the FCA authorised operator follows a rigorous open tender procurement process run by the ACCESS Pool with the assistance of Hymans Robertson.
ACCESS recently announced its intention to establish its own FCA authorised investment management company. Efforts are underway to establish the IM Co, which will be responsible for portfolio management, legacy oversight capabilities and enable the pool to provide further value for money and the economies of scale that we have delivered to date.
Waystone, the largest independent Authorised Corporate Director (ACD) in the UK, will continue to operate an Authorised Contractual Scheme (ACS), including bespoke insurance coverage, on behalf of the ACCESS Pool. The use of an independent operator brings resilience to the model ACCESS has developed and will be further expanded on as we develop our Investment Management capabilities.
Cllr Mark Kemp-Gee, Chairman of the ACCESS Joint Committee, said: “Waystone will continue to deliver the ACS for our listed Assets along with significant Value for Money and economies of scale for our members and we are pleased it was successful again. We look forward to continuing with what has been a great collaboration with the team, as we transition to becoming an FCA-regulated pool Investment Manager in our own right”.
Karl Midl, Waystone Country Head – UK and CEO of Waystone’s UK ACD said: “We are delighted to have been re-appointed as the operator for the ACCESS Pool and to continue the strong partnership we have built over the past seven years. Winning this contract for a second time is a testament to the expertise and dedication of our team in delivering exceptional service. We look forward to supporting ACCESS as it evolves and continuing to build on our partnership.”
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