Network Rail has appointed P-Solve to its career average re-valued earnings (Care) pension scheme.
The investment consultancy and fiduciary management business of the Punter Southall Group will use the asset allocation decision-making powers delegated to them by the scheme trustees to invest in all appropriate asset classes within the Legal and General investment management range of funds.
Network Rail’s scheme trustees are aiming to maintain a 100% funding position and protect the scheme against downside risk.
The primary aim for trustees is to maintain its 100% funding position and protect itself against downside risk.
Under a separate contract, Network Rail has also appointed P-Solve to act as adviser to its £100 million plus defined contribution (DC) scheme as it seeks to transfer elements of defined benefit (DB) scheme provision to the DC framework.
The brief has been to restructure member options including creating a bespoke life-stage fund.
Paul Kemmer, head of asset solutions at P-Solve, said: “The trustees have instructed us to invest with the aim of maintaining their 100% funding level at an acceptable level of risk. †By actively managing the investment decision making process for Network Rail’s Care pension scheme trustees, we will be able to act fast when we spot opportunities in the market and act to avoid loss through depreciating markets.”
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