Key Takeaways
- • The People's Pension, the UK's largest commercial defined contribution master trust with £57bn in multi-asset assets, has made its in-house team the primary investment adviser to its trustee.
- • The in-house team is operating through People's Investment Limited (PIL), which received the authorisation needed to provide the advice.
- • The arrangement formalises a closer working relationship between the executive investment team and the trustee oversight board, which the author describes as a feature of leading asset owners.
- • Dan Mikulskis publicly framed the appointment as a vote of confidence and the culmination of a multi-year plan.
Summary
The People's Pension has appointed its in-house investment team as the primary investment adviser to the Trustee of the People's Pension, according to a post by Dan Mikulskis on LinkedIn. The move gives the master trust a dedicated in-house team producing investment advice and overseeing assets, according to the trust's publisher summary. The team operates through People's Investment Limited (PIL), which holds the authorisation required for the role.
The master trust is described as a £57bn multi-asset investor and the UK's biggest commercial defined contribution pension master trust. Mikulskis said that a strong, close relationship between the executive investment team and the oversight board is a fundamental feature of effective asset owners globally, and that in the trust's context this requires being the primary adviser. He said the timing was right for the team to step into the role.
Mikulskis described the team as growing and seasoned, with experience spanning asset management, banking, consulting and asset ownership. He said the team aims to build a lasting and consistent investment process with the trustees, based on shared beliefs and real conviction, and to develop the team around the needs of members and the trustee. He characterised the development as years in the making.
The master trust is described as a £57bn multi-asset investor and the UK's biggest commercial defined contribution pension master trust. Mikulskis said that a strong, close relationship between the executive investment team and the oversight board is a fundamental feature of effective asset owners globally, and that in the trust's context this requires being the primary adviser. He said the timing was right for the team to step into the role.
Mikulskis described the team as growing and seasoned, with experience spanning asset management, banking, consulting and asset ownership. He said the team aims to build a lasting and consistent investment process with the trustees, based on shared beliefs and real conviction, and to develop the team around the needs of members and the trustee. He characterised the development as years in the making.
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