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Fiduciary Management for UK Pension Schemes
Ultimately the decision rests with scheme trustees.
However, an interesting development is the desire of finance directors to work alongside trustees to select a fiduciary manager. With many schemes now closed to new members and some also to future accrual, sponsors are also keen to establish a more effective governance framework which can introduce expertise into the decision-making process, increase the speed of implementation and enable a more sophisticated investment strategy to be developed.
Consideration of fiduciary management can therefore be initiated by either scheme trustees or scheme sponsors.