Van Lanschot Kempen Investment Management UK Ltd has been appointed as the fiduciary manager by the Trustee of the AA Pension Scheme, following a thorough evaluation process across the fiduciary management market. This decision marks a significant addition to Van Lanschot Kempen's client assets under management, with the mandate contributing £800 million.
The AA Pension Scheme, which serves as the defined benefit plan for the AA's workforce, boasts total assets exceeding £1.4 billion and encompasses approximately 24,000 members. The selection of Van Lanschot Kempen reflects the scheme's commitment to securing robust management for its assets and ensuring the financial well-being of its members.
This appointment underscores Van Lanschot Kempen's dedication to delivering tailored and innovative fiduciary management solutions. It highlights the firm's ability to meet the unique needs of clients like the AA Pension Scheme, providing them with comprehensive services tailored to their specific requirements.
Steve Delo, PAN Trustees, Independent Chair of Trustees for the AA Pension Scheme said, “We appointed Van Lanschot Kempen as our fiduciary manager after an extensive selection exercise over an extended period. We were impressed with the partnership model Van Lanschot Kempen operates and the collaborative nature of their lead team members. We had confidence that they can work productively with our investment committee to achieve the returns required from our growth portfolio and dovetail effectively with the scheme’s LDI programme. They are also performing an important governance and management role with our portfolio of illiquid assets.”
Jay Stewart, Chair of the Investment Committee of the AA Pension Scheme said, “The Van Lanschot Kempen team bring considerable intellectual power to their portfolio decision-making and are strong communicators of their investment ideas. We expect them to play a key role in the investment governance model we operate and enable trustee energies to be focused on top level, strategic matters.”
Vicky Casebourne, Head of Institutional Relations UK at Van Lanschot Kempen also added, “We are delighted that the AA’s Pension Scheme has appointed Van Lanschot Kempen as its fiduciary manager. The selection exercise was rigorous and focused on finding an investment partner to ensure a bespoke investment solution tailored to the trustee board needs. Ensuring the best possible member outcomes were central to this selection, and in an ever-evolving pensions industry, innovation and specialism in this area were key criteria to ensure this. Customer service is very important to us, as evidenced by the very high NPS rating we have received from our clients. We have greatly enjoyed working with all the trustees and advisers to the scheme over the last few years and are looking forward to the future of this successful partnership.”
Source: Van Lanschot Kempen
