UK Pension Schemes Now Offered Fiduciary Management Service by TPT Investment Management
TPT Investment Management, a division of TPT Retirement Solutions, introduces a solo fiduciary management proposition for Defined Benefit (DB) pension schemes in the UK. Previously, TPT's investment management services were only accessible through DB Complete and DB Connect offerings.
The new fiduciary management service from TPT builds on the success of scheme consolidation, an approach that combines assets for better value and impact. pooling assets of TPT as well as external pension schemes, delivering immediate scale advantages across multiple strategies. This enables pension schemes to enjoy enhanced diversification, better value, improved governance, and on-going expertise from TPT's in-house investment management team, which boasts 20 years of experience managing pension scheme assets. TPT oversees £9.6bn in combined assets and welcomes approximately £270m annually in fresh inflows.
As TPT is wholly owned by a pension scheme with no external shareholders, it brings a unique ownership model to the fiduciary management sector. This focus on serving pension schemes ensures the interests of scheme members come first. The ownership structure also creates a large internal asset market, allowing assets to potentially be exchanged with no costs or transaction fees when both a buyer and a seller are present.
The standalone fiduciary management service grants access to diverse investments not always available to smaller, independent schemes. TPT boasts extensive experience in asset allocation, with significant allocations to private markets, including infrastructure and private credit. Additionally, clients benefit from TPT's leading responsible investment capabilities, with sustainability playing a crucial role in TPT's investment decisions.
TPT's customer service is supported by cutting-edge technology and advanced reporting. The service focuses on delivering favorable outcomes, offering a flexible proposition and operational simplicity, particularly for medium-sized pension schemes.
Peter Smith, Head of Investment at TPT Investment Management, shared his enthusiasm for the new offering:
"We are excited to introduce our new fiduciary management service. This service aims to offer trustees access to a top-tier pension scheme investment management capability, delivering better value, incorporating exceptional stewardship, and ultimately, creating better outcomes for members. Our distinctive ownership model sets our fiduciary management services apart, providing value, operational simplicity, and the capacity to invest at scale in private markets."
References:
[1] TPT Investment Management (2022). TPT Investment Management launches new fiduciary management offering for UK pension schemes. Retrieved from https://www.tpt.org.uk/news-insights/tpt-investment-management-launches-new-fiduciary-management-offering-for-uk-pension-schemes/
[2] TPT Investment Management (2022). About TPT Investment Management. Retrieved from https://www.tpt.org.uk/about-tpt/tpt-investment-management/
[3] The Pensions Regulator (2021). What do trustees need to know about fiduciary management? Retrieved from https://www.thepensionsregulator.gov.uk/individuals/pension-schemes/what-do-trustees-need-to-know-about-fiduciary-management
- The new fiduciary management service from TPT Investment Management caters to personal-finance needs of pension schemes, offering them enhanced diversification, better value, and improved governance through a technology-driven approach.
- TPT's foray into news regarding solo fiduciary management for Defined Benefit (DB) pension schemes in the UK is in line with the success of scheme consolidation, which pools assets for better impact and value.
- With an emphasis on technology and cutting-edge reporting, TPT Investment Management aims to provide business owners with an opportunity to invest in a wide range of options, including private markets such as infrastructure and private credit.
- As a responsible investment firm, TPT Investment Management integrates sustainability in its investment decisions, demonstrating its commitment to environmental concerns and technological advancements.
