The Wiltshire Pension Fund has recently appointed Lombard Odier Investment Managers (LOIM) to manage a sustainable equity mandate, and Barnett Waddingham was named as its new actuary.

The scheme will invest £75m (€89m) in LOIM’s Planetary Transition strategy to fulfil the listed equities allocation of its own innovative Climate Opportunities (Clops) portfolio.

Investing in international sustainable stocks is the main focus of this approach, which also focuses on companies that are leading the way in the shift to a net-zero economy, it was announced.  

The scheme’s chief investment officer, Jennifer Devine, pointed out that LOIM’s approach to investing is in line with the fund’s goals.

“It is our opinion that sustainability trends can produce significant active equity returns and beneficial environmental consequences at the same time. This belief is reflected in the choice to allocate to this mandate,” she added.

Furthermore, the fund is actively building its Clops portfolio: plans are underway to complete this portfolio with the addition of a nature-based manager, the scheme stated.

In addition to this strategic investment shift, Wiltshire has appointed Barnett Waddingham as its new actuary, replacing Hymans Robertson. This change came as Hymans Robertson’s contract concluded, prompting a competitive tender process.

“This tender process included assessing services to employers/board/committee/fund, actuarial approaches, knowledge of the fund, its demographic and cost - ultimately, we felt Barnett Waddingham met our criteria the closest,” the scheme noted.

Additionally, the pension fund committee had a meeting scheduled for Thursday, 11 July, primarily focused on administration and governance. Notably, there were no investment strategy items on the agenda for this session.

Hertfordshire Pension Fund also picks Barnett Waddingham

The Hertfordshire Pension Fund has also selected Barnett Waddingham to deliver actuarial, benefits and governance and fund risk consultancy services.

The firm has secured a contract for up to 10 years with the fund, which is operated by Hertfordshire County Council, it said.

The Hertfordshire scheme has over 500 participating employers, resulting in more than 130,000 members and an asset value of over £6bn.

Patrick Towey, head of the Hertfordshire scheme, said: “Barnett Waddingham’s appointment comes at the end of an extensive procurement process, and I would like to thank my team for their hard work to support the fund in making this key appointment.”

The latest digital edition of IPE’s magazine is now available

Topics