UK - Credit Suisse Asset Management says it has relaunched its strategic allocation service for small to medium pension funds.

"The service allows pension fund trustees to set a customised benchmark that is then matched using Credit Suisse Pooled Pensions Ltd.'s wide range of pooled pension funds," CSAM said. "This service can be used to implement a client's particular liability matching strategy.

"It was developed in response to demand from pension funds wishing to move away from traditional balanced models and the CAPS median benchmark, where the asset mix may not accurately represent liabilities."

"The majority of smaller pension funds are unable to take advantage of segregated mandates due to their size and the costs involved," said Jonathan Hayes, head of pooled pensions business development. He told IPE that CSAM doesn't charge extra for the service.

He said it allows small schemes to develop a benchmark in conjunction with their advisors that more accurately reflects their liability profile, funding position and the trustees' attitude to risk.

"Furthermore, as the funds are managed to the clients' bespoke benchmarks, a more personal level of service is provided than if they were to pool their assets in a traditional balanced mandate."

Hayes added: "Our new service gives these funds the ability to construct a bespoke benchmark while benefiting from CSAM's long standing track record and expertise in managing fixed income, equity and property portfolios."