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Cardano appointed fiduciary manager for Grant Thornton Pensions Fund

15th April 2024

Cardano, the pension advisory and investment management specialist, has been appointed as the fiduciary manager for the Grant Thornton Pensions Fund. The principal employer for the scheme, Grant Thornton UK LPP, is a leading provider of professional services to businesses, public sector and not-for-profit organisations.

The Trustee appointed Cardano following a competitive tender process. As the Fund’s fiduciary manager, Cardano will provide services including investment advice, investment management, and risk management for the scheme’s £250 million of assets. There will be a particular focus on accurately matching liabilities through a segregated LDI mandate, while delivering steady returns through a dynamically managed growth portfolio.

Carl Williams, Chair of Trustees, Grant Thornton Pensions Fund, said: “We undertook the market tender as, based on previous experience, we were not sure if fiduciary management was right for us. However, after meeting the Cardano team, it was clear that fiduciary management was what we needed and they were the right team for us.

“They were effective in engaging with our Trustee Board, and it’s already clear that we’ll be getting first class advice and service, alongside their investment capabilities. Their client references were very impressive, and the smooth and cost-effective onboarding has been an early validation of our decision to appoint them.”

Steve Berkovi, Client Director, Cardano said: “We’re delighted to have been appointed by the Trustee Board. We can already see this will be a great fit and are very pleased with the relationship built so far. With the assets successfully transitioned, we look forward to working with the Trustee, the Principal Employer and other advisors to help secure members’ benefits.”

Fiduciary management at Cardano

Cardano pioneered fiduciary management sixteen years ago. We’ve helped clients reach their objectives ever since. These include reaching “low-dependency” funding levels and settling liabilities with insurers. Unlike fiduciary managers operating as funds-of-funds, we participate in markets directly.