Pension schemes appoint Goldman Sachs as fiduciary manager

Goldman Sachs Asset Management will focus on partnering with the Common Investment Fund to invest across the full range of asset classes

Goldman Sachs Asset Management has been appointed to provide fiduciary management services to two UK pension schemes within the Short Brothers Common Investment Fund with assets totalling £1.6bn ($1.98bn).

The trustees chose Goldman Sachs following a competitive tender process supported by PwC and said the company will implement a diversified investment strategy with bespoke hedging requirements to meet the fund’s long-term objectives.

Goldman Sachs Asset Management will focus on partnering with the Common Investment Fund to invest across the full range of asset classes, equipped with a dedicated local team and global reach at the trustee’s disposal.

With the benefit of scale, Goldman Sachs will seek to provide a transparent and cost-effective solution to the schemes, implementing strategies managed by internal and external providers.

Common Investment Fund chair, Ken Brundle, said: Following a rigorous process, we concluded that Goldman Sachs Asset Management offered a solution that was tailored to the specific needs of the fund and flexible enough to meet those unique requirements.

In selecting Goldman Sachs Asset Manager as our partner, we were impressed with the company's track record and deeply resourced investment teams, which assured us that they have the expertise to help us achieve our investment objectives, Brundle said.

Goldman Sachs Asset Management managing director and head of UK fiduciary management, Ed Francis, commented: We are delighted that the trustees of the pension schemes have appointed Goldman Sachs Asset Management.

This is a testament to our fiduciary management operating platform which aims to meet the needs of clients of all sizes and at all stages of their journeys, he said.

Francis said: The selection continues momentum in the UK fiduciary management market as schemes look to draw on the scale and resources of global firms to support their increasingly complex investment requirements.