Royal Mail publishes on their website:
Members of the current RMPP investment team will move to BlackRock to continue to deliver the investment strategy, ensuring stability and continuity.
The RMPP has a wide range of investments, or assets, which are managed to support the retirement benefits of our members.
In the past, the Trustee has managed these investments in-house, through a small team headed by our Chief Investment Officer. Now, the Trustee has selected BlackRock to manage its assets as an outsourced chief investment officer (OCIO). This means that some members of RMPP’s investment team will move to BlackRock and continue to manage the scheme’s investments. In doing so the RMPP will benefit from a range of expertise available from a full-service asset manager.
Richard Law-Deeks, Chief Executive of the RMPP said: “The Trustee’s main priority is to ensure the retirement benefits of our members are well managed and protected. Our in-house team has delivered strong investment performance during some challenging times and the RMPP is well-funded. It’s time to consider how to lock and maintain this position. This agreement ensures we retain the expertise of key members of the team, while at the same time benefitting from BlackRock’s wider resources.”
Source