Fiduciary management

Ben Gunnee reflects on 2018 and talks about the Fiduciary Management trends to keep an eye on in 2019

This week's top stories included Cardano announcing plans to acquire Now Pensions from a Dutch pension fund later this year.

The Competition and Markets Authority (CMA) has taken its first steps towards imposing a suite of remedies for the investment consulting and fiduciary management markets.

KPMG has introduced ratings for fiduciary management products and managers, mirroring its current approach with other investment manager funds.

Some investment consultants and fiduciary managers may be misrepresenting the conclusions of a major market competition review to clients, XPS Pensions says.

The Competition and Markets Authority's (CMA) final report on the investment consultant market has been celebrated as having "real teeth" to produce better outcomes for members.

Tenders for first-time fiduciary management mandates will be mandatory, must be conducted on a closed basis, and will apply to any mandate for over 20% of a scheme's assets, the Competition and Markets Authority (CMA) has confirmed.

The number of defined benefit (DB) schemes using fiduciary management grew by just 9% over the 12 months to June this year, according to KPMG.

Aon, Mercer and Willis Towers Watson have renewed criticism of the Competition and Markets Authority (CMA) over its analysis of the benefits of tendering for fiduciary management contracts.

Tendering for fiduciary management has led to fees being reduced by between 19% and 22%, latest analysis by the Competition and Markets Authority (CMA) finds.