Schroders Solutions awarded £170m Fiduciary Management mandate by the Royal National Institute of Blind People Retirement Benefits Pension Scheme
Schroders Solutions today announces it has been awarded a £170 million Fiduciary Management (FM) mandate by the Royal National Institute of Blind People’s (RNIB) Retirement Benefits Scheme, following an open and competitive tender process.
The mandate involves a highly bespoke solution that meets the Scheme’s strategic needs, with a focus on integrating Environmental, Social and Governance (ESG) factors into investment decision making and aligning to the charitable mission of the sponsor.
Schroders Solutions worked extensively with the Trustees to understand its ESG preferences. This led to the creation of a custom-built equity portfolio excluding companies which derive a material percentage of their revenue from tobacco given the harmful effects of smoking on eyesight.
Our investment solution has been used as a springboard to launch a pooled equity fund for other FM clients, that follows our FM process but incorporates a wider range of exclusions and ESG tilts.
James Barham, Executive Chairman, Schroders Solutions, said:
“This successful mandate win further demonstrates Schroders Solutions’ focus on working in partnership with clients to meet their investment objectives.
“We are grateful for the trust placed in us and look forward to working closely with the Trustees. Our objective is to be the provider of choice for FM services by offering an end-to-end solution with a specific focus on robust portfolio construction, responsible investing and bespoke service.”
Andrew Evans, Chair of RNIB Retirement Benefits Scheme, said:
“We’re delighted to appoint Schroders as our fiduciary manager following a highly competitive selection process. The firm demonstrated a thorough understanding of the Trustees' needs by effectively incorporating our specific ESG beliefs into the Scheme’s investment strategy.”
Stuart Fox, RNIB’s Chief Financial Officer, added:
“Schroders’ sustainability capabilities have been crucial in aligning our portfolio with our long-term objectives, and the overall mission of RNIB.”
This mandate, whose assets have been successfully onboarded, further builds on Schroders Solutions’ strong momentum, having been awarded a £1 billion FM mandate by the Merchant Navy Ratings Pension Fund last year[1]. Schroders Solutions manages £220.8 billion[2] in investment solutions globally.
As a Group, Schroders is the largest charity investment manager in the UK[3] through Cazenove Capital, a leading provider of personalised wealth management services to ultra-high net worth and high net worth clients, family offices and trusts.
We are investment partner to 1,734 charities with £12.9 billion under management[4] and are also fiduciary manager to 15 pension schemes who have charitable organisations as their sponsoring employer.
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Schroders Solutions
Schroders Solutions is a £220.8 billion global capability with employees in the UK, US, Singapore, and Germany. Our dedicated solutions experts provide investment and advisory services to public and corporate pension schemes, official institutions, insurance companies, individual investors, intermediaries and wealth providers worldwide. Solving investment problems is integral to what we do. We draw on our knowledge and experience as a global provider to build bespoke investment solutions and strategies. We partner with our clients to understand their investment challenges and construct investment portfolios that deliver their desired financial outcomes. Our consultative approach draws on both Schroders’ investment skills and those of the wider investment industry. Schroders Solutions offers Fiduciary Management, Outsourced CIO, liability, duration and cashflow driven investing, as well as derivatives-based growth strategies. Our solutions are accessible to clients of all sizes through a flexible approach to implementation, sensitive to their needs and objectives.
Source: Schroders as of 30 June 2024
Schroders plc
Schroders is a global investment manager which provides active asset management, wealth management and investment solutions, with £773.7 billion (€912.6 billion; $978.1 billion) of assets under management at 30 June 2024. As a UK listed FTSE100 company, Schroders has a market capitalisation of circa £6 billion and over 6,000 employees across 38 locations. Established in 1804, Schroders remains true to its roots as a family-founded business. The Schroder family continues to be a significant shareholder, holding approximately 44% of the issued share capital.
Schroders' success can be attributed to its diversified business model, spanning different asset classes, client types and geographies. The company offers innovative products and solutions through four core business divisions: Public Markets, Solutions, Wealth Management, and Schroders Capital, which focuses on private markets, including private equity, renewable infrastructure investing, private debt & credit alternatives, and real estate.
Schroders aims to provide excellent investment performance to clients through active management. This means directing capital towards resilient businesses with sustainable business models, consistently with the investment goals of its clients. Schroders serves a diverse client base that includes pension schemes, insurance companies, sovereign wealth funds, endowments, foundations, high net worth individuals, family offices, as well as end clients through partnerships with distributors, financial advisers, and online platforms.
Issued by Schroder Investment Management Limited. Registration No 1893220 England. Authorised and regulated by the Financial Conduct Authority. For regular updates by e-mail please register online at www.schroders.com for our alerting service.
[1] MNRPF selects Schroders Solutions as fiduciary manager - MNRPF
[2] As at 30 June 2024
[3] Source: Charity Finance Fund Management Survey – November 2024[4] As at November 2024