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Schroder deals provide route into DC market

Schroder has renamed Liberty International Pensions as Schroder Pensions after completing its acquisition of the pension provider.

The deal provides Schroder with a well-respected defined-contribution administration and customer service operation to back up its fund management expertise.

It gives Schroder a team of 50 DC pension advisers, a customer service centre in Peterborough and technology to support internet services.

Schroder has also acquired Hermes Liberty, which it has renamed Schroder Hermes. The firm will offer Hermes&#39 index-tracking fund management services to final-salary and DC pension schemes. It will also allow DC clients to choose multi-manager funds.

It plans to roll out new products covering the full DC market later this year, including investment management only, third-party administration only, a full DC pension service and any combination of these options.

Schroder Pensions chairman Richard Haw says: “There has been a shortfall in the administration of DC schemes but our ability to provide administration to a high standard will be a driver of business over and above investment options and investment performance.”

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