E.On appoints Cardano as pensions adviser

Energy company E.On has selected Cardano to advise on investments for its £5bn defined benefit pension scheme.

Cardano will advise trustees on all aspects of the group’s investment arrangements, including asset allocation, liability hedging and manager selection.

Neil Smith, chief executive of the E.On UK pension scheme, said: “We chose Cardano because we wanted to adopt a more dynamic and flexible approach to our investment strategy.†

“Recent events have shown how important it is for trustees to focus on the funding position and to manage risks but also to adopt an innovative approach to generating returns.”

Richard Dowell, head of clients for Cardano UK, said: “Our solvency-based approach means that we will focus the trustees on the factors that most influence the funding level.”