Redington has been appointed as the strategic investment consultant to BA Pensions’ £6 billion Airways Pension Scheme (APS).
According to Redington, who manages pension fund assets worth more than £500 billion, it will work with the outsourced chief investment officer (OCIO), BlackRock, to ensure the OCIO relationship is producing the maximum value for APS and its members.
BA Pensions selected BlackRock as OCIO for about £21.5 billion of its pension schemes’ assets in October of last year.
BA Pensions chief executive officer Vinny Ehzuvan says: “We are committed to having investment strategies that maximise financial security for members’ benefits whilst stabilising the funding position of each scheme.”
“Following a thorough selection process, it was clear Redington’s values and priorities were aligned with our own. Redington’s deep knowledge of the challenges facing large DB schemes – particularly those adopting an OCIO model – will enable us to continue delivering the best possible investment outcomes for APS members.”
Redington managing director and head of OCIO Advisory Nick Lewis says: “APS is in a strong position thanks to the trustee’s careful and considered efforts to de-risk the scheme over time. We couldn’t be more pleased to be supporting APS on the next stage of its journey – being entrusted with this responsibility is a testament to the quality of advice delivered by our highly skilled investment consulting and OCIO oversight teams.
“Redington has its own mission of helping to make 100 million people financially secure, and having a hand in supporting APS’s 20,000 members presents another significant step towards that.”
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