TPTIM launches fiduciary management offering for DB pension schemes

TPT Investment Management (TPTIM) has launched a standalone fiduciary management offering for UK defined benefit (DB) pension schemes.

The offering builds on TPT’s model of scheme consolidation and is provided by its in-house investment management function.

The fiduciary management service will provide access to a range of investments, often not available to smaller, standalone schemes.

In addition to this, clients will gain access to TPT’s responsible investment capabilities, with sustainable investing playing a “central role” in TPTIM’s decisions.

This aims to ensure the responsible allocation, management, and oversight of capital to create long-term value for scheme members, and sustainable benefits for the economy, the environment, and society.

TPT’s technology platform includes tools to manage each client’s portfolio in line with risk budgets and ensures a robust approach to governance, reporting, and investing.

The service is designed to deliver good outcomes through a flexible proposition and operational simplicity, addressing the gap in the market, particularly for medium-sized pension schemes.

Previously, TPTIM’s investment management services were available through TPT’s DB Complete and DB Connect propositions.

TPT uses a range of asset class-specific funds to bring together the assets currently managed by TPT with those of external pension schemes.

This allows schemes to benefit from increased diversification, and better value through economies of scale, enhanced governance, and ongoing investment expertise.

Furthermore, as TPT is owned by a pension scheme with no external shareholders, it has a distinctive ownership model for a fiduciary manager and a singular focus on delivering consolidation for pension schemes, ensuring scheme members are prioritised.

The ownership model has created a large internal market for assets, allowing for both buyers and sellers for assets providing the potential for assets to be exchanged internally without incurring costs or transaction fees.

Commenting on the launch, TPTIM head of investment, Peter Smith, said: “We are thrilled to launch our new fiduciary management service.

“Our new offering will provide trustees with access to a best-in-class pension scheme investment management capability.

“This aims to provide better value to the schemes, incorporates the highest levels of stewardship and, ultimately, is set up to deliver better outcomes for members.

“Our distinctive ownership model allows our fiduciary management services to stand out from others in the market, providing value, operational simplicity, and the ability to invest as scale in private markets.”