National Grid to sell pension asset management
The National Grid UK Pension Scheme (NGUKPS) has decided to sell its captive asset management business, Aerion Fund Management.
Through the sale, the pension fund will outsource the management of the scheme's assets.
"The sale of Aerion will have full regard to protecting the assets of the Scheme and will seek to procure the best possible outcome for all stakeholders," stated the NGUKPS in the release announcing the change in strategy.
The decision came as a result of a review of the NGUKPS investment strategy and of the governance model by the trustees.
In parallel with outsourcing asset management, NGUKPS will be creating a small executive team of specialists who can support the trustees in the active management of the scheme’s assets, close monitoring of its liabilities and tight control of investment risks.
NGUKPS has appointed Fenchurch to advise on and support a structured process.
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