The trustee of UK Power Networks Pension Scheme has appointed SEI as fiduciary manager following a competitive process, involving nine providers.
SEI, which will replace the existing investment consultant and asset managers, will provide integrated investment advice and asset management for the £200m defined benefit scheme under the agreed terms of the deal.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
SEI will also offer investment advice to the DC section of the scheme.
SEI will provide a customised solution designed to meet and maintain the scheme’s long-term funding objectives. As fiduciary manager, it will also deliver strategic investment advice, as well as, full implementation of an investment strategy and journey plan.
Commenting on the selection, UK Power Networks head of pensions Michele Hirons-Wood said: "The Trustee was keen to develop their investment strategy in a way that supported opportunistic investing whilst also increasing the focus on the overall funding level and risk budget.
"The Trustee undertook a robust process and concluded that the SEI proposition met their requirements due to the bespoke nature of their Fiduciary Management solution and their flexibility in meeting the specific needs of the scheme."
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataIan Love, a managing director in SEI’s Institutional Group in the UK, said: "The UK Power Networks Pension Scheme is open to accrual and we will be focused on providing a bespoke solution suited to their goals. We look forward to working with the Trustees to achieve this."
