Key Takeaways
- • Kempen Capital Management has been appointed fiduciary manager for the Graphic Packaging International UK Pension Scheme, and onboarding is complete.
- • The mandate followed a competitive tendering process that ran through the second half of 2020.
- • The trustee replaced its previous fiduciary manager after a "comprehensive exercise" supported by XPS as third-party selection consultant, following the CMA review and subsequent order.
- • The fiduciary team will work with the trustee and sponsoring employers toward funding objectives and full funding.
Summary
The Graphic Packaging International UK Pension Scheme has appointed Kempen Capital Management as its fiduciary manager, according to a Pensions Age report dated February 11, 2021. The scheme has completed the onboarding stage of the appointment.
The mandate was awarded after a competitive tendering process that ran through the second half of 2020. The trustee had previously engaged XPS as a third-party selection consultant to advise it throughout the selection process. The process followed the CMA review of the UK pensions investment consultancy and fiduciary management market and the subsequent order, and the trustee decided after a "comprehensive exercise" to change fiduciary manager.
The fiduciary team will work with the trustee to achieve the scheme's and sponsoring employers' funding objectives and move toward full funding.
Brad Ankerholz, identified in the report as speaking for the Graphic Packaging International UK Pension Scheme, said that following a competitive tender process, the trustee concluded that Kempen was fully aligned with its priorities and had the necessary expertise to help achieve its objectives.
Andre Keisers, managing director of Kempen UK, said the firm was pleased to be selected and looked forward to delivering the best possible outcome for members. He said the mandate reflected Kempen's advisory and investment expertise and its ability to customize solutions to meet individual schemes' needs.
The mandate was awarded after a competitive tendering process that ran through the second half of 2020. The trustee had previously engaged XPS as a third-party selection consultant to advise it throughout the selection process. The process followed the CMA review of the UK pensions investment consultancy and fiduciary management market and the subsequent order, and the trustee decided after a "comprehensive exercise" to change fiduciary manager.
The fiduciary team will work with the trustee to achieve the scheme's and sponsoring employers' funding objectives and move toward full funding.
Brad Ankerholz, identified in the report as speaking for the Graphic Packaging International UK Pension Scheme, said that following a competitive tender process, the trustee concluded that Kempen was fully aligned with its priorities and had the necessary expertise to help achieve its objectives.
Andre Keisers, managing director of Kempen UK, said the firm was pleased to be selected and looked forward to delivering the best possible outcome for members. He said the mandate reflected Kempen's advisory and investment expertise and its ability to customize solutions to meet individual schemes' needs.
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