The defined contribution (DC) section of the Schroders Retirement Benefits Scheme (SRBS), chaired by BESTrustees professional trustee Lisa Mundy, has announced its investment in Schroders’ climate-focussed private assets long-term asset fund (LTAF), the Schroders Capital Climate+ LTAF.
The SRBS has made a £48m investment – equalling 20% of the default growth fund – as it aims to provide greater diversification benefits and access to the ‘robust returns’ private markets can deliver. The strategy is to invest in a range of assets including infrastructure, real estate, private equity, natural capital and biodiversity through a combination of Schroders Capital and externally managed funds.
“A review of our default investment strategy found that our members would gain valuable diversification benefits through an allocation to private markets. We believe the addition of Climate+ supports the trustee’s objective of enhancing overall returns compared to our previous default investment strategy, thereby improving retirement outcomes for our members. It also supports the trustee’s stewardship objectives in relation to climate change and sustainable investment.”
SRBS trustee chair Lisa Mundy
“The addition of the Schroders Capital Climate+ LTAF means SRBS members now have access to a multi-asset private markets fund which offers significant diversification across asset classes and geographies and the potential to enhance returns over the long-term. This was made possible through a careful and considered approach which addressed what previously have been the specific obstacles preventing private markets allocations. The LTAF structure overcomes these historic barriers to entry while taking into account the liquidity needs relating to the wider portfolio and members’ retirement glidepaths.”
Schroders head of UK DC clients Ryan Taylor
Latest Insights
BESTrustees recruits former Grant Thornton covenant partner Paul Brice as professional trustee
BESTrustees has announced its second professional trustee recruit of 2025 – with the arrival of former Grant Thornton covenant advisory partner Paul Brice. Paul joins BESTrustees after a prestigious career in Pensions, both in the Advisory side as a Partner at KPMG and Grant Thornton; and as an executive for nearly eight years for what is now Railpen, the Executive Company of the Railways Pension Scheme where he Chaired the Scheme’s Risk Management Committee. Paul has advised on a considerable number of covenant-related matters across a wide range of business sectors – including in relation to highly complex corporate transactions, …
BESTrustees leads successful buy-in transaction for the Carr’s Group Pension Scheme
The Trustees of the Carr’s Group Pension Scheme, chaired by Rachel Tranter of BESTrustees, have completed a c.£44m buy-in transaction with Aviva to cover 216 pensioner and 56 deferred members of the Scheme. Mercer acted as lead transaction adviser using its streamlined broking process. “I am delighted to have guided the trustees through the transaction process to achieve a successful outcome which further increases the security of our members’ benefits. This transaction was very much a collaborative teamworking effort involving the trustees, the Company (Carr’s Group plc), the insurer and our professional advisers all carrying out important roles throughout the …
