justsurrey - the surrey website
about us - contact
justsurrey bookmark
jobs in surrey local surrey news local surrey weather surrey business news local surrey sport surrey traffic and travel surrey whatson estate agents in surrey

Surrey road news

Surrey Local News

Surrey train timetables and rail information

Surrey forecast weather news

Surrey Business News - Business News From And For Surrey

08/05/12 In-House Investment Team - Tesco Pension Fund

Tesco and the Pension Fund Trustees are establishing an in-house investment team to manage their pension scheme and increase net returns. Tesco has one of the largest private sector pension schemes in the UK, with over 170,000 employees part of its defined benefit scheme and investment assets worth over £6bn. The new in-house investment team will reduce dependence on external providers whilst governance will continue to be provided by the Trustees.

Lucy Neville-Rolfe, Executive Director CMG (Corporate & Legal Affairs) said “We are building a high-calibre in-house team to help manage our growing scheme and reduce dependence on external providers. I’m delighted that we have now received FSA approval and can start taking some of our investments in-house.”

A separate company, Tesco Pension Investment, has been set up and is now operational, having been granted FSA approval on 26th March 2012. The Pension Trustees will remain responsible for the long-term investment strategy and management of the Scheme’s assets.

The new team will be led by Steven Daniels, Chief Investment Officer, while Tesco’s Group Pensions Director Ruston Smith will oversee the team. Daniels was Group Chief Investment Officer at Liverpool Victoria for 14 years.


Please note Justsurrey does not have responsibility for information published on external websites, please see our disclaimer. Sitemap.

© www.justsurrey.co.uk