On the go: The £642m Uniper Group of the Electricity Supply Pension Scheme has awarded a £570m fiduciary management mandate to Kempen Capital Management.
The defined benefit scheme for the energy company, part of the ESPS group, appointed Kempen for a full fiduciary management mandate following a tender process started in December 2020 and completed in May 2021.
The procurement, which saw Kempen replacing incumbent manager Aon, was launched as a result of a review of the fiduciary investment marketplace carried out by the Competition and Markets Authority.
In a newsletter to members, Matthew Bayes, chair of the trustees, explained: “Following on from a competitive tender exercise, we have recently appointed Kempen as the new fiduciary manager of our pension scheme assets.”
Aon will continue to act as the scheme’s actuary.
Nikesh Patel, head of investment strategy at Kempen UK, said the manager looks forward to working with the scheme, “delivering customised investment solutions which meet Uniper’s specific needs, particularly regarding responsible investing and environmental, social and governance”.
This article originally appeared on MandateWire.com
