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Impact investing


Mandate roundup: SEI, Torfaen, FIL Pensions Management, Invesco AM

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The £29m (€35m) CIPD defined benefit pension scheme has appointed SEI as its investment adviser.

SEI will act as an adviser for the whole of the UK scheme’s assets.

CIPD is the professional body for HR and people development.

Its trustees selected SEI after a competitive process involving a number of providers, they said.

As CIPD’s adviser, SEI is to provide strategic investment advice and the full implementation of a bespoke investment strategy.

SEI will also manage the scheme’s day-to-day investment strategy, including the selection and replacement of managers, tactical asset allocation, changes to strategy, funding-level monitoring and reporting.

Peter Purdom, chairman of trustees at the CIPD scheme, said: “We were initially looking to appoint a traditional consultant. However, during the selection process, it became apparent SEI’s solution offered a greater diversification of asset classes, investment styles and investment managers than would be possible using the more traditional approach.”

In other news, Torfaen County Borough Council has awarded FIL Pensions Management a £50m global emerging markets mandate.

At the same time, it awarded a £100m Asia Pacific ex Japan mandate to Invesco Asset Management.

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  • QN-2546

    Asset class: Real Estate Equity Fund (non listed).
    Asset region: Europe.
    Size: Total CHF 600m, approx. CHF 100-300m per fund investment.
    Closing date: 2019-06-28.

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