Redington has been appointed as the strategic investment consultant to BA Pensions’ £6 billion Airways Pension Scheme (APS).
Alongside ongoing strategic investment and risk management services, the mandate will see Redington collaborating with Outsourced Chief Investment Officer (OCIO), BlackRock, to continually ensure the OCIO relationship is delivering maximum value for APS and its members.
Vinny Ehzuvan, Chief Executive Officer of BA Pensions, commented: “We are committed to having investment strategies that maximise financial security for members’ benefits whilst stabilising the funding position of each scheme.”
“Following a thorough selection process, it was clear Redington’s values and priorities were aligned with our own. Redington’s deep knowledge of the challenges facing large DB schemes – particularly those adopting an OCIO model – will enable us to continue delivering the best possible investment outcomes for APS members.”
Redington Managing Director and Head of OCIO Advisory, Nick Lewis, commented: “APS is in a strong position thanks to the trustee’s careful and considered efforts to de-risk the scheme over time. We couldn’t be more pleased to be supporting APS on the next stage of its journey – being entrusted with this responsibility is a testament to the quality of advice delivered by our highly skilled investment consulting and OCIO oversight teams.”
“Redington has its own mission of helping to make 100 million people financially secure, and having a hand in supporting APS’s 20,000 members presents another significant step towards that.”
Overall, Redington works with pension funds looking after assets worth more than £500 billion.