Qinetiq Pension Scheme has appointed Insight as fiduciary manager to manage the fund’s £1.3bn (€1.5bn) assets.
As part of the mandate, Insight has responsibility for advising the trustee on all aspects of investment strategy in addition to day-to-day oversight and management of the scheme’s assets, it was announced.
The trustee has set clear investment objectives that establish the pension fund’s long-term goals within defined risk parameters, and working closely with the trustee, Insight’s approach focuses on funding level, stability, efficient implementation, oversight of third-party managers, and clear, transparent reporting.
Martin Cooper, chief financial officer at Qinetiq, said: “Moving to a fiduciary management model is another step forward in enhancing the governance of the company’s defined benefit pension scheme.”
David Fogarty, professional trustee at Dalriada, added: “Insight provided an FM [fiduciary management] proposition that fitted extremely well with the scheme’s current positioning and strategic objectives.”
Raman Srivastava, chief executive officer at Insight, said: “Insight has a long history of providing bespoke solutions to DB pension schemes. This appointment marks a significant milestone in the extension of our outsourced solutions.”
Serkan Bektas, head of Insight’s client solutions group, added: “Our aim is to support robust governance and timely decision making that places the focus on the scheme’s journey. The framework we built together allows the trustee to concentrate on setting their strategic objectives and monitoring progress while we focus on reliable delivery of their targeted investment outcome.”
