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SA multi-manager aims to fill a gap in UK DB market

South African multi-manager Investment Solutions has set up a multi-manager service in the UK aimed at companies which offer complex pension arrangements involving both defined-benefit and definedcontribution schemes.

The company is offering a range of 30 asset class building blocks which combine actively managed and passive funds and says it is aiming at closing the gap in the UK market for products designed specifically for employers with mature or closed DB schemes.

Investment Solutions first established its presence in the UK last September in a joint acquisition of Schroders Pensions Group with actuarial consultants Lane Clark & Peacock.

It has since developed four specialist funds – the horizon gilt, long-dated fixed interest, long-dated inflation protection and global diversified equity funds – all of which can be blended for a scheme&#39s changing pension payments as its scheme membership matures.

Chairman Steve Braudo says: “The majority of DB schemes in the UK are now closed to new members and closure has a dramatic effect on a scheme&#39s cashflow and asset/liability profile, not least reducing the availability of future generations of members to help smooth experience over time.

“This in turn can accelerate the decision to wind up. It is imperative that the investment strategy of a closed scheme is integrated with its changing cashflow and liability profile to maximise the chances of funding benefits for current and future pensions.”

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