UK – Fiduciary manager Cardano has been selected as investment adviser for the UK Power Networks Group (UKPN) pension scheme in the UK.
The Dutch manager's appointment to the £2.7bn (€3.1bn) scheme came after a "rigorous and challenging selection process", according to UKPN head of pensions Michele Hirons-Wood.
"Throughout the process, Cardano had a clear focus – to ensure all investment decisions aim to improve and stabilise our funding ratio," she said.
"They bring with them a strong team with a great deal of experience and specialist knowledge."
Hirons-Wood added that the scheme wanted to "continue to be innovative" in its investment approach and felt Cardano would be able to support that.
Richard Dowell, head of clients for Cardano UK, said: "We are extremely pleased to be able to work with a group of forward-looking trustees like UKPN."
In a statement, Cardano noted that the appointment meant it now advised around 30% of the £30bn of Electricity Supply Pension Scheme assets.
The firm was previously appointed as an adviser to the Southern Electric pension fund, replacing at the time incumbent adviser Hewitt Associates, and advises a third fund.