Rothschild engineers £56m FKI bond brief
UK - Rothschild Asset Management (RAM) has been appointed by the trustees of the FKI Group Pension Scheme to manage the fund’s £56m bond exposure.
The scheme looks after the pension benefits of FKI plc, the international engineering group and the trustees have set Rothschild a benchmark of 50% in the FTSE Actuaries over 15 year gilt index and 50% in the FTSE Actuaries over 5 year index linked gilt index.
The target is to outperform the benchmark by 1.0% per annum after fees over rolling three-year periods.
The portfolio can also invest in non-government bonds and in international bonds.
The appointment follows a search process conducted by the trustees in
conjunction with their consultants, Bacon & Woodrow.
Mark Connolly, Director of Rothschild Asset Management, comments:
"We are delighted to have been appointed by the FKI Group Pension Scheme.
“The mandate is one of an increasing number of specialist bond portfolios
that Rothschild manages for UK pension funds. “