TPR Investment Management, the investment management arm of TPT Retirement Solutions, has extended its services to external defined benefit (DB) schemes by launching a standalone fiduciary management proposition.
The firm’s investment management services were previously only available through TPT’s DB Complete and DB Connect propositions.
The new fiduciary management service builds on the successful model of scheme consolidation – pooling assets to deliver value and impact – for the benefit of DB pension schemes, it announced.
TPT said it uses a range of asset class-specific funds to aggregate the assets currently managed by TPT with those of external pension schemes, generating immediate scale benefits across a wide range of strategies. This, it explained, enables schemes to benefit from increased diversification, better value through economies of scale, enhanced governance, and ongoing investment expertise.
The services are being provided by TPT’s existing and well-established in-house investment management function, which has 20 years of experience managing pension scheme assets. TPT is already responsible for £9.6bn in combined assets and attracts around £270m a year of new inflows.
Peter Smith, head of investment at TPT Investment Management, said: “We are thrilled to launch our new fiduciary management service. Our new offering will provide trustees with access to a best-in-class pension scheme investment management capability.”
Smith said the offering aims to provide better value to the schemes, incorporates the highest levels of stewardship and is set up to deliver better outcomes for members.
He said: “Our distinctive ownership model allows our fiduciary management services to stand out from others in the market, providing value, operational simplicity, and the ability to invest as scale in private markets.”
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