The Trustee sets the investment strategy for the Scheme after taking advice from the Scheme’s Investment Adviser, Investment Consultant and the Scheme Actuary. The Trustee delegates the day-to-day management of investments to Pension Services Limited (“PSL”), its in-house investment manager. It is a wholly owned subsidiary of the Scheme and regulated by the Financial Conduct Authority (“FCA”). The Trustee has in place an investment mandate with their investment manager which implements this strategy.
The PSL Board consists of Keith Greenfield (Trustee Chairman), Allan Johnston (Trustee) and Hugh Smart (the Fund’s Chief Investment Officer) and it is responsible for the oversight and governance of the FCA regulated investment activities.