Category: News

London Borough of Bromley Appoints AllenbridgeEpic

AllenbridgeEpic Investment Advisers Limited (AllenbridgeEpic) is pleased to announce that the London Borough of Bromley has appointed it as the independent investment adviser to its Pension Fund (the Fund).

Alick Stevenson, a Senior Adviser with AllenbridgeEpic and a member of AllenbridgeEpic’s Investment Panel, will act as the individual advising the Fund.

In that capacity, Alick will be providing regular reports analysing fund manager performance and will be assisting the Pension and Investment Sub Committee and the Fund Executive in reviewing the current investment structure of the Fund, coupled with a review of the current strategic investment benchmark.

Karen Shackleton, Chief Executive of AllenbridgeEpic, said:

“We are delighted that another leading Local Authority Pension Fund has appointed us as their independent investment adviser. We look forward to working closely with the Fund to help it meet the investment challenges that confront both public and private sector schemes. AllenbridgeEpic’s Investment Panel structure provides a collegiate forum enabling investment advisers to keep fully up to speed with developments in the markets and the investment world overall.”

Peter Turner, London Borough of Bromley’s Finance Director said:

“We are looking forward to working with Alick and AllenbridgeEpic to ensure the Pension Fund’s strategic asset allocation targets and investment performance objectives are successfully achieved by our investment managers following completion of the current review. We believe it is essential for public sector schemes to seek the highest quality investment advice, in order that the funding of the liabilities can be achieved as cost effectively as possible. This key advice is increasingly important during the current economic climate which provides significant new challenges for pension fund performance. The Bromley Fund has been a top performer amongst local authority funds in recent years and I am looking to build on that past success with our partnership with AllenbridgeEpic.”


EPIC Investment Advisers in Merger Talks

EPIC Investment Advisers (EIA), the leading independent consultant to pension fund trustees, is pleased to announce that it has entered into exclusive merger negotiations with Allenbridge Group plc, the specialist fund management performance appraisal business.  EIA was established by a group of senior City fund managers in 2003 to serve the growing demand for independent advice on governance and investment-related issues in the pensions arena.  

EPIC Investment Partners, of which EIA had been a division since 2003, was acquired in January 2007 by Syndicate Asset Management, the specialist fund management consolidator.

The Myners review in 2001 (and a further report in 2004) highlighted the need* to raise the level of knowledge and competence in trustee boards and to strengthen the decision-making processes of investment committees. 

Chris Edge, Chief Executive of EIA, said: ‘We believe it is important for the next stage of our development that we clearly establish an independent base. The change of ownership from an investment management house to a recognised impartial adviser will help to underline the integrity of our advice.’ 

Anthony Yadgaroff, Group Managing Director of Allenbridge, said: ‘The fit of Epic’s business model with our established advisory business to banks, funds and institutions is attractive. We are excited by the prospect of working with Epic’s talented and experienced team to develop the many opportunities for growth in the pensions market.’

 


AEIA Adviser Appointed by London Borough of Islington Pension Fund

AllenbridgeEPIC Investment Advisers (‘AEIA’) is pleased to announce that the London Borough of Islington has appointed AEIA to be the Independent Investment Adviser to its Pension Fund (‘the Fund’). Karen Shackleton, a senior adviser with AEIA, and a member of AEIA’s Investment Panel, will act as the individual advising the Fund. 

In that capacity, one of AEIA’s early tasks will be to carry out an assessment of the performance of London Borough of Islington’s current investment managers, who include: Framlington Group Ltd, UBS Global Asset Management, Insight Investment, Goldman Sachs Asset Management, Standard Life Investment Ltd, Capital International Ltd, Pantheon Ltd and Morley Fund Management. 

Commenting on AEIA’s appointment to the Fund Christopher Edge, Chief Executive, said: ‘I am delighted that another leading Local Authority Pension Fund has appointed us as their independent investment adviser. This represents a significant further step in our involvement with the public sector. We look forward to working closely with the 

Fund to help in meeting the investment challenges that confront schemes in both the public and the private sector. AEIA’s panel structure provides a vital mechanism to keep pension fund advisers fully up to speed with developments in the markets and the investment industry overall.’ 

Andy Nutter, London Borough of Islington’s Assistant Director of Finance, said: ‘We look forward to working with Karen and AEIA to ensure that the Pension Fund’s strategic asset allocation targets and investment performance objectives are successfully achieved by our investment managers. We believe that it is essential for public sector pension schemes to seek the highest quality independent investment advice, in order that the funding of the liabilities can be achieved as cost-effectively as possible.’  


Allenbridge Group Acquires EPIC Investment Advisers

Allenbridge Group plc, the specialist investment advisory company, is pleased to announce that it has become the largest single shareholder in EPIC Investment Advisers (EIA), the leading independent consultant to pension fund trustees, having purchased 51% of the equity from Syndicate Asset Management. The new company is known as AllenbridgeEPIC Investment Advisers (AEIA).  

EIA was originally established by a group of senior City fund managers in 2003 to serve the growing demand for independent advice on governance and investmentrelated issues in the pensions arena. It currently advises pension funds with total assets under management of ‘8 billion

The Myners review in 2001 (and a further report in 2004) highlighted the need* to raise the level of knowledge and competence in trustee boards and to strengthen the decision-making processes of investment committees. Chris Edge, Chief Executive of AEIA, said: ‘We are delighted to have joined Allenbridge. Our move to a recognised impartial adviser establishes an independent base, underlining the integrity of our advice. We believe the timing of the merger is particularly significant, in a market where research by the Economist Intelligence Unit shows that trustees need access to good quality expert advice in a number of specialist areas. We are particularly looking forward to working closely with Allenbridge’s highly regarded hedge fund research team, adding to our knowledge of alternative asset classes.’ 

Anthony Yadgaroff, Group Managing Director of Allenbridge, said: ‘The fit of AEIA’s business model with our established advisory business to banks, funds and institutions is attractive. We are excited by the prospect of working with AEIA’s talented and experienced team to develop the many opportunities for growth in the pensions market.’

 


AEIA Adviser Re-Appointed by North Yorkshire Pension Fund

AllenbridgeEPIC Investment advisers Limited (‘AEIA’) is pleased to announce that Philip Williams, senior adviser at AEIA, has been re-appointed as independent investment adviser to the ‘1.2 billion North Yorkshire Pension Fund.  

Neil Sellstrom, Principal Accountant with the Fund said: ‘After a competitive tendering exercise we are pleased to re-appoint Philip Williams from AEIA to the role of independent adviser. He will work with Mercer Investment Consulting, who have been appointed investment consultants to the Fund’. 

Commenting on AEIA’s appointment to the Fund Christopher Edge, Chief Executive, said: 

‘I am delighted that another leading Local Authority Pension Scheme (LGPS) has appointed us as their independent investment adviser. This represents a significant further step in our involvement with the public sector. AEIA now advises five LGPS funds*, with a total value of assets under management of over ‘8.0 billion. 

‘We estimate that only around half of the UK’s 99 LGPS funds currently employ an independent investment adviser. Such advisers sometimes work in conjunction with funds’ actuarial investment consultants, and in other cases act in a sole capacity. AEIA’s advisers are comfortable working in either role and we see significant potential to build on our existing presence in this very important sector. This is particularly the case as our team of advisers, through their association with AEIA, benefit from FSA regulation and professional indemnity insurance cover, which may not be the case for individuals acting in isolation.’     

Chris Edge also said: ‘North Yorkshire has been at the forefront in actively embracing some of the most up-to-date thinking regarding pension scheme investment assets, and at AEIA we look forward to assisting other public and private sector schemes in this direction.’ 

Edge continued: ‘Philip Williams (see details below) advises three of AEIA’s LGPS clients, whilst we have recently strengthened our experience in the public sector through the appointment to our Investment Panel of Peter Scales, OBE, former chief executive of the London Pension Funds Authority.’


AEIA Links Up With Strutt & Parker

AllenbridgeEPIC Investment Advisers links up with Strutt & Parker Real Estate Financial Services for expert property investment advice.

AllenbridgeEPIC Investment Advisers (‘AllenbridgeEPIC’) is pleased to announce the appointment of Strutt & Parker Real Estate Financial Services (‘SPREFS’) as its preferred property investment adviser. SPREFS will use its institutional pedigree, specialist knowledge and expertise in the real estate industry to provide multi-manager services and advice on property exposure to AllenbridgeEPIC’s existing and future clients.

SPREFS already has a number of clients with ‘5million and upwards for which it has designed and now manages multi-manager indirect real estate portfolios. AllenbridgeEPIC, based in London’s Mayfair, was formed when Allenbridge Group PLC, the specialist investment advisory company acquired EPIC Investment Advisers, the leading independent consultant to pension fund trustees, from Syndicate Asset Management. AllenbridgeEPIC has representative offices in Glasgow and Lancaster and the SPREFS team will work with the panel of investment experts at AllenbridgeEPIC to provide each of their current and future clients with advice to cater for their appetite for property exposure.

Chris Edge, Chief Executive of AllenbridgeEPIC said:

‘Our business blueprint brings together like-minded people, each of whom has a distinguished track record in the pensions and investment sector, in a partnership that deploys the most appropriate team to meet trustees’ specific requirements.

SPREFS bring unrivalled property expertise in being able to provide bespoke portfolio design services to achieve the desired risk/return profile for investors and is a perfect complement to the services we already provide to trustees.’

Philip Ingman, Managing Director of SPREFS, added:

‘Our multi-manager service currently works with a number of investors in the pension fund industry and we are well placed to be able to provide similar expert property advice to AllenbridgeEPIC’s client base.

We are pleased to be able to enter into this agreement with AllenbridgeEPIC and are looking forward to our working together.”


Allenbridge Investment Solutions Launches Comprehensive Investment Advisory Business

Allenbridge Investment Solutions LLP (AIS) today announced the launch of its comprehensive investment advisory business. AIS has been formed through the combination of two complementary businesses: AllenbridgeEpic Investment Advisers Limited (AllenbridgeEpic), a leading advisor to UK pension funds and charities; and the contribution by Moody’s Corporation of its global Hedge Fund Operational Quality (OQ) Ratings business. Stakeholders of both groups will retain ownership stakes in AIS.

The AIS group will continue to provide investment advisory services to AllenbridgeEpic clients, including leading UK FTSE 100 and 250 companies, and major local authority pension funds. Assets under advisement exceed $45 billion, including both broad and specialist advisory mandates. AIS will also continue to provide OQ ratings to the majority of the legacy Moody’s OQ rating clients, which include some of the largest and most influential global hedge fund managers.

The combination of the businesses will allow AIS to provide a full range of investment advisory services and analytical solutions to institutional investors, including operational and investment due diligence of alternative investments, OQ ratings for hedge funds, manager selection services, portfolio construction and structured investment solutions. 

The company will operate primarily out of its head office in London and its regional office in New York. Odi Lahav, the former Head of the European Alternative Investments Group at Moody’s, has been appointed as Chief Executive of AIS. Karen Shackleton, former Chief Executive of AllenbridgeEpic, will continue to head the advisory business.

‘We are committed to providing comprehensive investment advisory services to our clients, building upon our existing foundation to expand our specialist service and analytical capabilities,’ said Anthony Yadgaroff, Chairman of AIS. ‘I believe that the combination of these businesses and the resulting global footprint significantly enhances our ability to provide innovative and value added services to our clients.’

‘In the current challenging economic and investment climate, we’ve seen a real need to bring additional analytical rigour and innovative solutions to institutional investors, particularly in the alternatives investment sector’, said Odi Lahav, Chief Executive of AIS, adding ‘I believe that Allenbridge Investment Solutions is well-positioned to provide unique insight and guidance to clients’.


Neil Morgan Joins AllenbridgeEpic

AllenbridgeEpic Investment Advisers Limited (AllenbridgeEpic), a leading investment adviser to UK pension funds, is pleased to announce that Neil Morgan has joined its team as a Senior Adviser.

Neil has worked in investment consulting for over 10 years and was previously Head of the Investment Consulting Practice and a Senior Investment Consultant at Bluefin. While there he provided investment consultancy advice to a broad range of Defined Benefit (DB) and Defined Contribution (DC) pension schemes.

Neil has extensive experience of working with the trustees and plan sponsors of DB schemes to improve funding levels through measuring and monitoring investment risk. He has also worked with clients to implement de-risking programmes based on tolerance for risk and prevailing market conditions. In addition, he has helped with scheme governance and default fund design, both for trust-based and contract-based DC schemes.

Prior to that Neil worked for both JLT and Hewitt Bacon and Woodrow, was involved in developing quantitative risk modelling tools, was Head of Equities for Saudi International Bank and Head of Investment at the Esso Pension Fund (when it was all internally managed). He started his career as an economist and market strategist with Prudential Portfolio Managers.

Karen Shackleton, Chief Executive of AllenbridgeEpic, said:

“We are delighted that Neil has joined us as a Senior Adviser. He brings extensive experience of working with both DB and DC schemes and strengthens the already diverse expertise we have on our advisory team. As well as working with DB clients in the corporate sector, Neil will also be helping AllenbridgeEpic define our new independent advisory service to DC pension schemes. We consider that there is a need for independent, impartial investment advice in this growing sector of the market that is not currently being met.”

Neil Morgan said:

“I am very pleased to be joining AllenbridgeEpic, and look forward to working with their team of experienced investment consultants, giving the highest quality of service to the firm’s clients. In a rapidly changing world, in particular for corporate pension schemes, I look forward to advising both DB and DC clients, where the challenges of, for example, de-risking and investment governance, require that they receive expert advice.”

 


John Arthur Joins AllenbridgeEpic

AllenbridgeEpic Investment Advisers Limited (AllenbridgeEpic), a leading investment adviser to UK pension funds, is pleased to announce that John Arthur has joined its team as a Senior Adviser.

John has over 25 years’ experience within the defined benefit pension industry, most recently as Director of Client Services at Aerion Fund Management and previously as a Fund Manager covering UK and international equity markets.

At Aerion Fund Management, the in-house Fund Manager for the ’14bn National Grid UK Pension Scheme, he was responsible for communicating directly with the Scheme’s Trustees, advisers and Secretariat regarding all investment matters, including long term strategy for matching the Scheme’s liabilities and managing the scope and terms of agreement with investment managers. During this time, John was also a member of the Investment Group responsible for agreeing all investment processes used within Aerion and a Member of the Management Committee of the in-house Fund Manager.

As Investment Director of International Equities, he was responsible for a team of investment professionals managing ‘2bn in overseas (ex UK) equities and directly managing a portfolio of ‘1bn in European equities..

Karen Shackleton, Chief Executive of AllenbridgeEpic, said:

“We are delighted that John is to join us as a Senior Adviser. He brings extensive experience of institutional investment – both in the UK and internationally – and of trustee relationships. He will provide valuable insights at our internal monthly debates on markets. Our investment advisory service is currently seeing significant interest, and we anticipate that John will act as independent adviser to both local authority and larger corporate pension schemes.”

John Arthur said:

“I am very pleased to be joining AllenbridgeEpic and look forward to working with their talented panel of independent investment consultants. I was especially attracted by the nature of their tailored investment advisory service for pension schemes, including for FTSE 250 companies and funded public sector pension schemes.”


Philip Hebson Joins AllenbridgeEpic

AllenbridgeEpic Investment Advisers Limited (AllenbridgeEpic), a leading investment adviser to UK pension funds, is pleased to announce that Philip Hebson has joined its team as a Senior Adviser.

Philip has over 30 years’ experience in the securities industry. He was with Charterhouse Securities (formerly Tilney & Co.) for 20 years and was appointed as a Director in 1992. Whilst there he was a member of the UK Equities sales team, responsible for marketing the firm’s analytical output to a wide range of institutional clients. He also acted as an investment adviser to a major local authority pension fund.

In 2000 Philip joined Merseyside Pension Fund as Head of UK Equities, responsible for research and portfolio structure decisions for the internally managed portfolio, managing over ‘2bn of assets. He was also involved in the monitoring process for the Fund’s external investment managers and advising on the risk profiling of the Fund, including asset allocation.

Since 2010 Philip has been providing independent specialist advice to quoted companies in the areas of Corporate Governance, Investor Relations and Business Structure. He is also a Non-Executive Director of Aberdeen Private Equity Fund, and Treasurer and Investment Adviser to Chester Municipal Charities.

Philip is a Chartered Fellow of the Chartered Institute for Securities & Investment and a Member of the Institute of Directors.