The trustees of the National Farmers Union’s pension scheme have handed a £100m mandate to Russell Investments.
National Farmers’ Union of England and Wales (NFU) Staff Pension Scheme dumped the traditional pension scheme investment model in favour of appointing a fiduciary manager following a strategic review.
Russell beat five other asset managers to win the mandate. NFU director of finance and business services Ken Sutherland said that the firm was “hands down” the best candidate.
Core to this decision was the belief that the firm has the expertise to help the scheme achieve full funding within an agreed timeframe.
Russell Investments’ head of UK institutional, Jim Leggate, said with trustees’ time under increased pressure there is a need for them to consider delegation.
“By working with Russell Investments, the scheme will benefit from the expertise of an extensive team of investment specialists supported by an experienced team with impressive industry experience,” he added.
