Bringing you live news and features since 2013
Bringing you news, views and analysis since 2013

12314

SEI appointed fiduciary manager for Metroline

RELATED TOPICS​

SEI has been appointed as fiduciary manager to the defined benefit schemes of Metroline, a provider of bus services in London.

 
SEI will act as fiduciary manager for the Metroline London Northern Pension Scheme and the Metroline Pension Scheme, which have GBP26m and GBP25.6m in assets, respectively, totalling GBP51.6m in assets.
 
SEI will provide the Metroline schemes with a fiduciary management service that includes advice on asset and liability matching strategies and implementation of those strategies via the construction of efficient investment portfolios.
 
The Metroline trustees pointed to SEI’s ability to deliver an active approach to growing and protecting funding levels with less reliance on quarterly meetings in their decision to work with SEI. With a fiduciary manager, Metroline’s trustees can focus on strategic issues rather than asset management.
 
John Brace, trustee on the Metroline London Northern and Metroline Pension Schemes, says: "We decided to appoint SEI because we were keen to find a solution that would improve our scheme governance and allow us to more actively manage our funding level to reduce volatility and close any funding gaps. We undertook a rigorous procurement exercise with the guidance of our administrator and appointed SEI because we were impressed with the depth and quality of the company’s team and SEI’s significant track record in managing funding levels effectively. We were particularly attracted to SEI because it offered a bespoke solution that was tailored to our needs as a trustee body. We also felt a unique rapport with the team, which has given us confidence in SEI’s ability to work with us and achieve our objectives for the scheme and its members."
 

Patrick Disney, managing director of SEI’s institutional group in the EMEA region, says: "We are delighted that such a strong and well known brand like Metroline has made the decision to appoint SEI as fiduciary manager. Fiduciary management continues to grow in popularity in the UK and we have had an excellent start to 2013, with a significant increase in activity over the last few months. It is clear that trustee bodies in the UK are starting to recognise the need for a specialist approach to managing funding levels effectively and SEI’s uniquely tailored offering is gaining significant traction in the market."

Latest News

New research from Carne Group reveals fund managers expect alternative asset classes to see the..
Brown Brothers Harriman & Co has expanded its relationship with AllianceBernstein (AB), by adding to..
The trading and investment platform eToro has extended its proxy voting feature to all stocks..

Related Articles

The trend of private equity firms acquiring businesses in the professional services sector continues with CVC Capital Partners eyeing a possible buyout of EY’s Italian consulting branch...
The trend of private equity firms acquiring businesses in the professional services sector continues with CVC Capital Partners eyeing a..
Pension funds
UK defined benefit (DB) pension plan sponsors could have access to GBP 1.2 trillion in surplus assets over the next decade, industry research reveals...
UK defined benefit (DB) pension plan sponsors could have access to GBP 1.2 trillion in surplus assets over the next..
Tim Crawmer, Payden & Rygel
Tim Crawmer and Frasat Shah of Payden & Rygel write that higher yields are attracting more demand from investors. Also, given that equities had a strong year last year, big funds have taken some chips off the table in equities and put them into fixed income...
Tim Crawmer and Frasat Shah of Payden & Rygel write that higher yields are attracting more demand from investors. Also,..
Lady justice
Top marks for the Pensions Regulator (TPR) whose efforts to improve resilience in the UK pension funds’ liability-driven investment (LDI) strategies received glowing commendations from the Bank of England in its March report...
Top marks for the Pensions Regulator (TPR) whose efforts to improve resilience in the UK pension funds’ liability-driven investment (LDI)..
Subscribe to the Institutional Asset Manager newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by