Mn Services, a fiduciary manager in the Netherlands, is to be the partner of the Pension Management Institutes (PMI) Fiduciary Management Specialist Industry Sector (SIS).
Mn Services entered the UK in the summer of 2008, hoping to open up the domestic market to the possibilities of fiduciary management. The UK model often sees trustees managing assets on the advice of an investment consultant over a series of quarterly meetings.
According to SEI, another large-scale provider, fiduciary management can be defined as a pension management solution which focuses on achieving the long term goals of a pension fund within a defined risk management framework by providing both day-to-day investment management and advisory services.
Many UK pension schemes are trying to get a better understanding of the potential benefits and limitations of fiduciary management as a governance and risk management solution, commented Remco van Eeuwijk, managing director of Mn Services UK. Mn Services has almost a decade of experience as fiduciary managers in the Netherlands. We understand what fiduciary management can achieve for pension schemes and perhaps even more importantly what it cant. We have been involved in discussions with many UK schemes in the last twelve months; however we are aware that there are many more who would like information than we can reach. In partnering with the PMI we hope we can help them support their members by answering the questions that UK schemes have, which will improve understanding and provide clarity.
According to Vince Linnane, PMI chief executive: Fiduciary management may not be new but interest in this scheme management approach has increased substantially, recently. Its vital for the PMI to be able to keep members up to date on key industry developments and to cut through noise with clear, concise and comprehensive information that enables our members to make informed decisions and better understand the options that are open to them. We are delighted that Mn Services is joining us as our Fiduciary Management SIS partner; bringing their expertise and experience on both continental Europe and the UK.
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Giles TurnerNews Editor