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SEI wins fiduciary management mandate
18 February 2013
SEI has been appointed a fiduciary manager to Epson's Uk £40m ($60m) defined benefit pension scheme
SEI has been appointed by Epson UK to provide fiduciary services to all assets of the firm's £40m ($60m) defined benefit scheme in the UK.
SEI will provide the Epson scheme with a fiduciary management offering, which includes the implementation of asset and liability matching strategies, the construction of an efficient investment portfolio, and the selection and replacement of managers to run the portfolio.
Epson’s trustees decided to engage a fiduciary manager because of a desire to more actively and effectively manage the scheme’s funding level, SEI said.
Nigel Wildman, chairman of trustees of the Epson pension scheme, said “we decided to appoint a fiduciary manager because we were keen to find a solution that would improve our scheme governance and allow us to more effectively manage of our funding level".
“We were ready to take a more delegated approach in an area that was becoming more complex and time consuming for a trustee board that has no specialist investment knowledge or background.”
According to Patrick Disney, managing director of SEI’s institutional group in the Emea region, “fiduciary management continues to grow in popularity in the UK and this win is a further demonstration of how an approach that aims to improve governance and decision making can benefit trustees".