Fiduciary management. March 2013

Transcription

1 Fiduciary management March 2013

2

3

4

5

6

7

8

9

10

11

12 Understanding the UK fiduciary management market p.m p.m. Tuesday, 20 March In this first of a series of webcasts on fiduciary management, our Ernst & Young panel will discuss the fiduciary management market in the UK. The fiduciary management market available to the trustees and sponsors of UK defined benefit pension schemes is new and growing rapidly, with new entrants joining the market regularly. As a result, there is a broad and changing range of potential solutions to investment decision-making issues. The webcast aims to help you: Develop your understanding of how the market is developing Appreciate the number of players in the market and the diversity of solutions De-mystify some of the terminology which can often be confusing We hope by the end of the webcast you will start to have a feel for whether or not fiduciary management could be something worthy of further consideration. During this live webcast, you will have the opportunity to ask questions through the website, and the panellists will answer as many of your questions as time permits. The program is designed to be of particular interest to pension scheme trustees, finance directors and pension managers. We hope you will be able to join us. Featured panellists Delegated versus advisory framework The best fit for you p.m p.m. Wednesday, 13 June Trustees of defined benefit pension schemes can make investment decisions, acting on advice. Alternatively they can delegate those decisions to a Fiduciary Manager. It is all around good governance. There are two main questions: should we delegate? and if so, what and to whom? Ultimately, the decision depends on the individual scheme and trustees. In our experience, their views can evolve over time. Following a selection exercise, some pension scheme trustees delegate more than they initially thought. Others have pulled back from a high level of delegation. In this second webcast in our series on UK fiduciary management, we will: Highlight areas of investment strategy that can be delegated Provide insight into the areas typically delegated Discuss the considerations and challenges for trustees to address before making any change During this live webcast you will have the opportunity to ask questions through the website. Panelists will answer as many questions as time permits. This program will likely be of particular interest to pension scheme trustees, chief investment officers, finance directors and those providing fiduciary management. We hope you will be able to join us. Iain Brown, Ernst & Young LLP, Pensions Advisory Matt Mignault, Ernst & Young LLP, Pensions Advisory Tony Martinez, Ernst & Young LLP, Pensions Advisory Click here to listen Click here to listen

13 Best practice in the selection of a fiduciary manager p.m p.m. Wednesday, 26 September There are currently more than 15 fiduciary managers actively participating in the UK defined benefit pensions market, with significant differences in their styles of solution and available internal infrastructure. There is potential for significantly greater investment powers to be delegated to a fiduciary manager than would typically be delegated to an asset manager. So a robust selection procedure with appropriate due diligence is advisable because of the potential impact on the future health of your pension scheme. This third webcast in our series on UK fiduciary management, aims to: Develop your understanding of the solutions available Identify the components of a best practice invitation to tender (ITT) exercise Outline how an efficient ITT might be run and the hurdles to be overcome during the process This program is of particular interest to pension scheme trustees, finance directors and pension managers. During the live webcast, you will have the opportunity to ask questions of our panelists through the website. We hope you will be able to join us. Featured panellists Iain Brown (Partner), Ernst & Young LLP (UK), Pensions Advisory Matt Mignault, Ernst & Young LLP, Pensions Advisory Tony Martinez, Ernst & Young LLP, Pensions Advisory The importance of robust monitoring of a fiduciary manager p.m p.m. Wednesday, 5 December Delegating decisions to a fiduciary manager releases pension scheme trustees from some responsibilities and calls on their time. However, there is a need for monitoring of the actions taken and decisions made by the fiduciary manager. This need becomes greater in line with the level of delegation. The webcast aims to: Highlight the benefits of robust monitoring and why it is of such importance Provide background on those areas of monitoring that could be regarded as constituting best practice Outline how the eventual approach to monitoring can differ widely depending on client preferences We hope by the end of the webcast you will appreciate the significant benefits achievable from introducing robust monitoring of the fiduciary manager and why it can be important to develop an approach that is specific to each group of trustees or sponsor. During this live webcast, you will have the opportunity to ask questions through the website, and the panellists will answer as many of your questions as time permits. The program is designed to be of particular interest to pension scheme trustees, finance directors and pension managers. We hope you will be able to join us. Featured panellists Iain Brown, Ernst & Young LLP, Pensions Advisory Matt Mignault, Ernst & Young LLP, Pensions Advisory Tony Martinez, Ernst & Young LLP, Pensions Advisory Click here to listen Click here to listen

14 Ernst & Young LLP Assurance Tax Transactions Advisory About Ernst & Young Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 167,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential. Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit The UK firm Ernst & Young LLP is a limited liability partnership registered in England and Wales with registered number OC and is a member firm of Ernst & Young Global Limited. Ernst & Young LLP, 1 More London Place, London, SE1 2AF. Ernst & Young LLP Published in the UK. All Rights Reserved. In line with Ernst & Young s commitment to minimise its impact on the environment, this document has been printed on paper with a high recycled content. Information in this publication is intended to provide only a general outline of the subjects covered. It should neither be regarded as comprehensive nor sufficient for making decisions, nor should it be used in place of professional advice. Ernst & Young LLP accepts no responsibility for any loss arising from any action taken or not taken by anyone using this material indd (UK) 03/13. Creative Services Group. ED: None