Cardano, the British/Dutch pension advisory and investment management specialist, has been appointed by the Unisys UK Pension Trustee to act as the fiduciary manager of the Unisys Pension Scheme.
As the schemes’ fiduciary manager, Cardano will provide services including investment advice, investment management, sustainable investing and risk management for the schemes’ £1.2bn (€1.42bn) assets including growth and liability hedging portfolios.
This new mandate brings Cardano’s total client assets under management to £50bn (€59bn) as of January 2022.
The schemes’ principal employer is Unisys Ltd, part of Unisys Corporation, a global information technology solutions company that delivers advanced technology solutions to businesses and governments around the world.
Patrick Cunningham, partner at Cardano, said: “We are delighted by this appointment and look forward to working with the trustee, the schemes’ sponsor and other advisers to help secure members’ benefits. Our focus will be on integrated consideration of funding and investment risks to achieve steady improvement in the schemes’ funding levels over time and across a wide range of market scenarios.”
Hetal Kotecha, director of independent trustee services and the trustee’s chair, said: “The trustee appointed Cardano after a governance review and a competitive selection process. We were attracted by Cardano’s integrated approach to pension investing and risk management and we look forward to working together for the benefit of our schemes’ members.”
Cardano manages more than £15bn in DC assets across the UK and the Netherlands. In the UK, the firm operates NOW: Pensions, a UK workplace pension.
The trustee appointed Cardano following a competitive tendering process completed in January 2022.
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