UK – Manufacturer Intelek plc has appointed insurer Multi-manager Investment Solutions Limited to manage its closed £9.5m (€13.7m) defined benefit pension fund.
Before selecting Multi-manager Investment Solutions, part of the Alexander Forbes Group, trustees considered “several” tenders, Intelek finance director Kevin Edwards told IPE.
Until now the fund has been managed by its six trustees, including Edwards, and assisted by consultants.
“We believe that its multi-manager approach, which incorporates a rigorous research and manager selection process, will generate the returns required for us to meet the scheme’s liabilities” Edwards said.
“Additionally, their ability to offer liability-driven solutions for our closed DB scheme was an important factor in their selection,” he added.
Richard Dinham, senior investment manager at Investment Solutions said it managed UK assets in excess of £350m.
Intelek is a group of companies that design and manufacture electronic components and systems for the satellite, wireless communications and aerospace sectors.
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