Amey OS Pension Scheme has selected SEI as a fiduciary manager to its £135m defined benefit (DB) pension scheme.
Under the deal, SEI will provide funding level management for the pension scheme, which is separated into two sections namely the Accord Section and the Amey Section.
Go deeper with GlobalData
For the first time, Amey section has replaced their investment consultant and selected a fiduciary manager, while SEI replaces the existing fiduciary manager for the Accord section of the scheme.
Additionally, SEI will also offer strategic investment advice, as well as full implementation of a customised investment strategy and journey plan designed to meet the Scheme’s long-term funding objectives.
The decision to select SEI follows a competitive selection process involving a range of providers including investment consultants and fiduciary management specialists.
Amey Pension Scheme sole independent trustee a client director at PTL Kim Nash said: "The Trustee made the decision to search for a Fiduciary Manager that would assist them with delivering a superior governance model.
"We undertook a thorough selection process to survey the market and selected SEI because of its specialist expertise in fiduciary management."
SEI’s Institutional Group UK managing director Ian Love said: "We look forward to working with the Trustee to help achieve their long-term funding level objectives."
