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
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