Capita Employee Benefits launched the Atlas Master Trust in 2015, although not quite early enough for three-year performance figures to be included in this report. Schroders has designed and manages the range of bespoke multi-asset funds that underpin Atlas’s default investment strategy. Members can access 28 self-select funds or nine different lifestyle strategy.
Atlas Master Trust
The scheme sits on Capita’s Orbit online benefits platform, enabling both members and the employer to manage the pension scheme online.
Derisking starts 10 years before selected retirement age and the glide path targets a state pension age/selected re- tirement age landing point with 31 per cent equity exposure. Atlas operates a ‘digital countdown to retirement programme’ which members can access in the run up to and at retirement, as well as making advice options available, with advice costs payable by member.
Asset Allocation charts
Data as of 31.03.18
| SCHEME STRUCTURE | |
| Benchmark | Composite benchmark |
| Alternatives offered to default | 28 self-select funds or 9 different lifestyle strategies |
| Charging structure for members | AMC bespoke |
| Charging structures for employers | Can be accommodated |
| KEY DATA | |
| Total assets as at 31.3.18 | £780m |
| Active members in default | 45,000 |
| % active members in default | 96% |
| Deferred members | 30,000 |
| Employers | 20 |
| Transfer out to draw income? | No |
| Approach to non-advised drawdown | Already offers it |
| Does default invest in ESG-screened funds? | We may introduce it within the next 2 years |
| Scheme administrator | Capita Employee Solutions |
| Scheme investment adviser | Capita Employee Solutions |
| Asset managers used | Schroders |
| PERFORMANCE: INVESTOR 5 YEARS TO SPA | |||
| 1 Year | 3 Year | 5 Year | |
| Annualised returns before costs (%) | 2.5 | - | - |
| Annualised risk | 4.77 | n/a | n/a |
| Sharpe ratio | 0.85 | n/a | n/a |
| CAPA Index +/- | -0.59 |
| PERFORMANCE: INVESTOR 30 YEARS TO SPA | |||
| 1 Year | 3 Year | 5 Year | |
| Annualised returns before costs (%) | - | - | - |
| Annualised risk | 4.96 | n/a | n/a |
| Sharpe ratio | 1.31 | n/a | n/a |
| CAPA Index +/- | -0.97 |
