The derivatives specialist and adviser Cardano has announced its appointment by the trustees of the GKN Group Pension Scheme, one of the UK’s largest pension funds with assets of over GBP2
The derivatives specialist and adviser Cardano has announced its appointment by the trustees of the GKN Group Pension Scheme, one of the UK’s largest pension funds with assets of over GBP2bn, to manage a GBP300m discrete portfolio of active equity investments. Cardano will select and appoint managers on a fully discretionary basis.
Phil Page, the GKN client manager at Cardano, says: ‘We are very pleased to have been selected by the GKN trustees to manage this active equity portfolio.
‘Trustees are increasingly looking to focus on achieving their high level objectives and delegate certain roles to investment professionals like Cardano.
He continues, ‘In this instance the GKN trustees have delegated the investment decisions and implementation of their active equity portfolio to us.’
John Hughes, chairman of trustees at GKN says, ‘Generating superior returns from equities is very important to the Trustees. We want an active approach to managing this specific part of our investments and decided that it makes sense to appoint a full time professional team suitably motivated to deliver targeted results.
‘Cardano have demonstrated its hands-on approach and the ability to take responsibility for timely decision making. It was also keen to align its interests with ours with its remuneration geared to performance.
‘Watson Wyatt will continue to be responsible for providing strategic and other investment advice to the GKN trustees.’
Cardano offers clients specialised, integrated investment and risk services, providing both advice and full implementation support. Services include investment advice, derivatives overlay and manager selection.