We believe that funding and investment decisions must be considered together. This is especially true for maturing pension schemes, where the nature of the liabilities, the speed at which they can change, and the need for disinvestment to meet those liabilities, must all be considered with any investment decision.
Punter Southall’s investment advice is meticulously constructed because it is backed by the full team of investment professionals we have across our group.
For any pension fund, the vast majority of added value from investment advice is achieved by asset allocation; the decisions on asset strategy and in which asset classes to invest. Historically, too much emphasis has been given to the selection of asset managers. This is not justified by the relative costs or the achieved returns, especially so for smaller schemes.
A traditional consulting approach can often be implemented using one asset manager and overseen by the Scheme Actuary, thereby achieving a streamlined and cost-efficient service.
The Punter Southall Group also offers a discretionary portfolio management
service through PSigma Investment Management. This service would be attractive to smaller pension funds that wish to have a dedicated portfolio manager looking after the scheme's assets.