Redington wins pensions investment contracts at two universities

22 June 2023 Consultancy.uk 2 min. read
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Pensions consultancy Redington has won two strategic investment contracts at leading universities.

Last week, the Cambridge University Assistants Contributory Pension Scheme – an open defined benefit pension scheme with circa £700 million in assets and 13,900 members – appointed Redington as strategic investment adviser.

The consulting firm has been hired to support the Investment Committee with developing its investment strategy. Part of the remit will also see Redington help the committee with enhancing the scheme’s sustainability characteristics, with particular attention on the topic of climate transition.

Redington wins pensions investment contracts at two universities

Michael Pratten, Chair of the Investments Committee, said: “We are delighted to be working in collaboration with Redington to optimise outcomes for our members in this next phase of our journey. The strength of its team and depth of capabilities across both public and private markets – as well as in sustainable investment specifically – will no doubt prove invaluable as we evolve our strategy for our ambitious long-term growth objectives.”

Commenting on the appointment, Tara Gillespie, Head of Global Assets at Redington, said: “The Cambridge University Assistants Contributory Pension Scheme has a rich track record of delivering benefits to Cambridge University’s support staff over the past hundred years, and it’s a pleasure to be helping shape an investment strategy that will continue to serve its needs and objectives for the decades ahead.”

Meanwhile, in March, Redington was appointed as strategic investment adviser to the University of London’s Unified Trust Fund.

The University of London is a leading provider of digital and blended distance education to more than 45,000 students across 190 countries, with over 500,000 alumni around the globe. The size of the university’s trust fund has not been disclosed.

Redington will help the trust fund with strategic work (for example: conducting a complete strategic asset allocation review), manager selection, and supporting the transition to sustainable investment.

Commenting on the appointment, Gillespie said: “The University of London has been a pioneer in providing students with life-changing access to education, whoever and wherever they are – and we’re delighted to be supporting it on that admirable mission. We are very excited to be helping tailor its investment strategy to enable the university to continue this legacy.”

Across the UK, Redington acts as an adviser to over £500 billion of client assets. The firm was recently named one of the UK’s leading pension consulting firms.