Insight Investment has been appointed as a fiduciary manager to a UK defined benefit (DB) pension scheme on a £1bn mandate.

Under the appointment, Insight will oversee the unnamed scheme's investment strategy, implementation and day-to-day governance, working alongside trustee Law Debenture and the scheme sponsor.

The mandate covers liability-hedging assets, contractual income strategies, plus legacy and external investments.

Insight head of client solutions group, Serkan Bektas, said: “Insight’s fiduciary offering is designed with the current circumstances and needs of defined benefit pension schemes in mind.”

He said their partnership on this mandate aims to support investment outcomes and provide “greater clarity on surplus sharing and member security”.

“We greatly value the working relationship between Law Debenture and Insight, and we are pleased to have been appointed for such a significant fiduciary management mandate,” he added.

Law Debenture professional trustee, Emma Pittaway, explained the firm acts as corporate sole trustee for the scheme.

“Although not right for all situations, we see a commonality between some of the principles behind corporate sole trustee and fiduciary management, and in this particular instance where the scheme is well funded and sharing surplus,” she said.

“We look forward to working closely with the Insight team as we continue to support the scheme's long-term objectives, ensure security for members and consider surplus arrangements into the future.”

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