The Cheviot Trust, an authorised master trust focused on improving outcomes for a broad range of defined benefit (DB), defined contribution (DC) and with-profit arrangements, has appointed Van Lanschot Kempen’s fiduciary management team to oversee a mandate in the region of £400m. The appointment followed a tendering process run by EY.
Selected for its investment governance expertise, focus on sustainable investment and alignment with the Trust’s growth ambition, the full mandate will see Kempen’s team provide fiduciary management services to the scheme’s trustees, it was announced.
The appointment builds on Kempen’s fiduciary management focus and its commitment to building fully bespoke mandates combined with exceptional client care, the firm stated.
Derek Morris, chair of The Cheviot Trust, said: “The Van Lanschot Kempen team has been collaborative, clear and flexible throughout the appointment process. With the help of our excellent advisers, Arc Pensions and EY, Van Lanschot Kempen have invested time in understanding the Trust’s unusual structure.”
He added that Kempen’s “excellent FM [fiduciary management] performance record will lead to positive results to support the Trust’s growth ambitions in both the DB and DC master trust space”.
“Our quality approach to governance will also be enhanced by better information and data in relation to sustainability, given Van Lanschot Kempen’s market-leading focus in this area, driven in part by their European presence,” Morris said.
Iain Brown, head of strategic clients at Van Lanschot Kempen Investment Management UK, said: “The Cheviot Trust has a real market opportunity in which to grow and be successful in both the DB and DC master trust areas and we will continue to invest and innovate to help the Trust achieve this.”
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