Karin Roeloffs chaired this Financial Investigator roundtable on fiduciary business models.
In this article, published in Financial Investigator No. 1 2019, Paul Boerboom and Tim Juling look back on the development of fiduciary management.
In this article, published in Pensioen Bestuur & Management in September 2018, Peter Kolthof considers the changing role of fiduciary managers.
3 November 2017 – Bart Heenk attended this event in New York
Bart Heenk comments on the potential regulation of investment advice in I&PE.
Dorothee Franzen, Paul Boerboom and Peter Kolthof discuss the state of play of fiduciary management in I&PE.
Peter Kolthof chaired two Financial Investigator roundtables – one for providers and one for pension fund clients.
During the roundtables, the importance of soft factors (match in culture) next to hard results was stressed, as well as the continuous and independent evaluation of a fiduciary manager.
Pension schemes should ensure they choose an independent adviser to assess their fiduciary manager’s performance, says Paul Boerboom.
Read the full article on I&PE.
Competition in the asset management sector is under scrutiny in the Financial Conduct Authority’s market study, but schemes can act now to get a better deal.
Read the full article on Pensions Expert.
PANEL
10 June 2016 – Bart Heenk (MD, Avida International) chaired a panel discussion at the IPE 360 Conference at the London Stock Exchange. Joining him on the Panel were David Adkins (Chief Investment Officer at The Pensions Trust) and Anthony Webb (Head of Fiduciary Management Research at KPMG). The topic was:
Making Outsourcing Work: Fiduciary Management and other forms of Investment Strategy Delegation
PAN-EUROPEAN AUDIENCE
The audience consisted of the leading pension fund representatives from the UK, Netherlands, France, Germany, Belgium and other key European pension markets.
TOPICS
The discussion centred around the importance of being able to judge the value of outsourced activity. Financial data – such as performance, costs and risk – are only one factor in this; softer human factors – such as communication, trust and innovation – are just as important, though not always easy to quantify. Another topic was the importance of pension funds not being talked into a provider’s outsourcing model, but to work out precisely what their own needs are before deciding on who the provider should be. Too often investment consultants are leading the debate and transferring their pension fund clients from an advisory to a delegated model, whereas the best solution for the pension fund might be an altogether different method of outsourced decision-making. It was agreed that a proper and independent analysis has to precede the decision to change the mandate.
By Sophia Grene, Financial Times, October 19, 2015
After a number of false starts, fiduciary management, where the day-to-day management of a pension scheme is outsourced, seems to be taking off in the UK market.
“My best guess is that, in five years, more than half of defined benefit [pension] assets will be run under some form of fiduciary management,” says Chris Ford, global head of investment at Towers Watson, the consultancy.
Bart Heenk spoke about the trend of outsourced models such as investment consulting and fiduciary management at the Sanlam Investment Institutional Insights conference in Sandton, Cape Town.
More and more pension funds are outsourcing part or all of their investment process to fiduciary managers or delegated CIOs, and in the Netherlands the majority of pension funds have already done so. Fiduciary management, solvency management, outsourced CI or delegated CIO, depending on how the various market participants label their service, can be very beneficial for defined benefit pension schemes that want or need a relatively sophisticated investment portfolio to meet their obligations.
Read the full article on I&PE.