CACEIS, the governance partner of choice for UK Pension Schemes, has been appointed by Brunel Pension Partnership, which is pooling circa £30 billion of investments across 10 Local Government Pension Scheme (LGPS) funds, to provide Cost Transparency and Benchmarking Services (CT&B) across the partnership.
The three-year deal will enable Brunel to comply with the LGPS Transparency Code of Conduct, where it is obliged to provide cost data analysis to their underlying clients. By partnering with CACEIS, Brunel is providing its clients with the most comprehensive CT&B in the industry.
CACEIS launched the UK’s first Pensions Transparency Dashboard back in 2017 to provide pension schemes with deep insight into the total cost of managing their pension schemes – covering ALL direct and indirect costs, administrative as well as investment costs. Gaining clarity on all costs associated with running their pensions schemes, as well as delivering quality checked, easy to interpret data helps schemes deliver strong governance and better outcomes for pension scheme members.
Commenting Pat Sharman, Managing Director, UK, CACEIS, “We are honoured to partner with Brunel, delivering our flexible cost transparency solution, supporting good governance and more informed decision making.
“The appointment by Brunel, arguably one of the most forward-thinking pools of local authority schemes out there, is a great endorsement of the role providers like us play in providing cost transparency insights and benchmarking. There is a great deal of work that goes into ensuring accurate and consistent cost data received from asset management firms and for many schemes, managing this analysis themselves would be prohibitive both in terms of cost and resources.”
Matthew Trebilcock, Client Relationship Director, Brunel Partnership, stated, “We have a clear set of principles at Brunel with one being adopt best practice collective governance. For us, this means ensuring we apply the same rigour to understanding our total cost of ownership, as we would to any other element of running our schemes. Only by having better oversight of our current spending, can we make more informed decisions for our members.”
“We chose CACEIS to partner with as they provide cost transparency across all elements of running the scheme, not just investment costs. We also liked their focus on delivering quality, strongly validated data in innovative ways, making it quick and easy to interpret.”
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In 2019, KAS BANK became part of CACEIS. Today, we deliver end-to-end securities solutions to UK pension schemes, backed by two of the world’s largest financial services firms – Credit Agricole and Santander. The combination of KAS BANK’s specialist heritage and CACEIS’s technical expertise has led to the creation of our Pensions Centre of Excellence, staffed by pensions professionals for pension schemes of all shapes and sizes. CACEIS and Santander’s strategic combination creates one of the largest international players in the field of custody and asset servicing, with €3.9 trillion of assets under custody and €2.1 trillion of assets under administration*, and backed by Crédit Agricole, the 9th largest bank in the world. As a top-ranking securities partner, CACEIS has a strong credit rating – Fitch and S&P A+**.
CACEIS has a strong commitment to UK Pension schemes and is focused on becoming the “Governance Partner of Choice”. CACEIS’ Centre of Excellence for Pensions is home to 110 highly experienced pensions professionals who provide a broad perspective on pension scheme best practice coupled with deep industry knowledge.
About Brunel Pension Partnership
Brunel Pension Partnership (Brunel) brings together circa £30 billion investments of 10 likeminded Local Government Pension Scheme funds. We believe in making long-term sustainable investments supported by robust and transparent process. We are here to protect the interests of our clients and their members. In collaboration with all our stakeholders we are forging better futures by investing for a world worth living in.
Brunel is one of eight national LGPS pools and will manage the investment of the pension assets for the funds of Avon, Buckinghamshire, Cornwall, Devon, Dorset, Environment Agency, Gloucestershire, Oxfordshire, Somerset and Wiltshire.