The Wincanton plc Pension Scheme’s recently published Annual Implementation Statement – 31 March 2025 outlines key investment decisions and intentions for both its Defined Benefit (DB) and Defined Contribution (DC) Sections.
DB Section to Incorporate Asset-Backed Securities
The Trustee of the DB Section has decided to include an allocation to asset-backed securities (ABS) within the Scheme’s strategic asset allocation. This decision aims to efficiently utilize headroom within the Liability Driven Investment (LDI) portfolio. The ABS allocation was implemented in May 2025, following the Scheme Year end (page 2).
DC Section Equity Fund to Transition to Blended Structure
During the Scheme Year, the Trustee agreed to replace the BlackRock 30:70 (Currency Hedged) Global Equity Fund with a new blended fund. This blended fund will consist of two underlying BlackRock funds and will be part of the growth phase in both lifestyle options within the DC Section. The implementation of this change is targeted for October 2025, after the Scheme Year end (page 2, 4).
ESG Factors to Guide New DC Equity Fund Selection
As part of the changes to the equity fund in the growth phase of the DC Section, the Trustee will incorporate ESG factors when selecting investments. This initiative is part of a broader Scheme-wide effort to align long-term investments with the Trustee’s objectives. This will be implemented in October 2025 (page 5).
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