Jeyes opts for fiduciary management

19 July, 2010

Jeyes Group has appointed SEI to provide fiduciary management services for two of its pension schemes.

SEI will provide fiduciary management services to the Jeyes’ £22m pension fund and £2.6m supplementary pension scheme, with the objective of improving the schemes’ funding positions

Tim Cave, chairman of trustees at the pension fund and supplementary pension scheme, said: “We decided to appoint a Fiduciary Manager because we were keen to enhance the governance of the scheme without increasing the cost or time spent by the trustees.

“We were attracted by the potential to make the assets of the scheme work harder and the improved alignment of assets and liabilities in the Fiduciary Management approach.

As fiduciary manager, SEI will work closely with the scheme trustees to develop an investment strategy.

SEI’s duties will include implementing asset and liability matching strategies, building an efficient investment portfolio, selecting the underlying managers to run the portfolio, as well as monitoring replacing investment managers where appropriate, as part of the company’s manager-of-managers process.