One of Cardano’s first fiduciary management clients announces buy-out

23 October 2019

Cardano publishes on its website:

“Cardano, the leading pensions investment specialist, has helped one of its first fiduciary management clients to complete a £3.8 billion full scheme buy-in with Rothesay Life. The buy-in has been secured in anticipation of a full buy-out of the Scheme in the next 20 to 24 months.

Cardano was appointed by the Trustees of the Asda Group Pension Scheme as a fiduciary manager and investment adviser in 2009. Over the last decade, through careful management of risk, and use of a wide investment toolkit, the fiduciary management mandate has achieved its investment objective of delivering a steady improvement in the funding level.

Once the Trustees decided to pursue a buy-out, Cardano were instrumental in transitioning the portfolio to match the insurer’s pricing basis, eliminating market risk whilst the final details of the transaction were being agreed.”

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