Mercer has been appointed by Alstom UK’s Common Investment Fund to provide fiduciary management services for three of their UK pension schemes with assets totalling £1.6bn. The Trustees of Alstom UK’s Common Investment Fund were supported by PwC UK in a review of its in-house asset management arrangements and a competitive tender process. Following this the Trustees made the decision to appoint Mercer to provide portfolio management, operational and implementation support to help deliver the Trustees’ long term objectives. The appointment further grows Mercer’s fiduciary business which now totals £58bn in the UK and $415bn of assets under management globally as of 31 December 2021.
Commenting on the appointment, Chair of the Common Investment Fund, Ken Brundle, said: “After an exhaustive and highly competitive tender process we have selected Mercer as our Fiduciary Manager. We believe Mercer is best placed to help us move through the next part of our journey for these schemes. The Mercer team and the deep resources that it brings, gives us the skills and expertise that we require. Key to their appointment was recognising their flexible and collaborative approach to help us design and implement our specific journey. ”
Dan Melley, Partner and Head of UK Investments, Mercer said: “We are extremely pleased to be working with the Trustees and I am confident that our focus on building unique solutions for each and every client will deliver their requirements. This appointment also reconfirms the momentum we have seen in the market of £1bn+ schemes reconsidering their governance approach. We expect to see this trend continue”.
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