Cardano appointed as OCIO for Northumbrian Water pension scheme

22 August 2023

Cardano, the pension advisory and investment management specialist, has been appointed to act as the outsourced chief investment officer (OCIO) for the Northumbrian Water Pension Scheme in the UK.

After a competitive tender process, the Trustee appointed Cardano to design and implement the £830m Scheme’s strategic asset allocation (SAA). The SAA will be consistent with return and risk management objectives set by the Trustee in consultation with the Scheme’s sponsor. WTW will continue to act as the Trustee’s investment consultant.

The SAA will evolve over time. It will initially be implemented using flexible building blocks, including: sustainable equities, investment grade corporate bonds, specialist active managers, several of the Scheme’s existing investments as well as government bond and inflation overlays.

Cardano will manage the Scheme’s liability hedging portfolio in-house on a segregated basis.

Source: Cardano