Brunel Pension Partnership appoints FundRock as Authorised Contractual Scheme Operator

Brunel Pension Partnership has appointed FundRock Management Company as its Authorised Contractual Scheme (ACS) Operator. “We felt that FundRock really understand our business and will excel at meeting our requirements,” says Joe Webster, Brunel’s Chief Operating Officer. “We’ve chosen to go for an ACS model for our investment management vehicle for around £7.5billion of actively managed equities because of the tax transparency this provides, and the fact it will make operations and transitions simpler, keeping costs lower.”

Structure and costs influenced Brunel’s decision in appointment of an Operator. “We chose FundRock because they offer the level of commitment and security we’re after, and value for money,” Webster says. “The model we’ve selected frees us up to focus on choosing quality managers and lets FundRock do what they are good at.”

Under the chosen model, Brunel acts as a Sponsor and Investment Manager of the ACS. The Operator we’ve selected are FundRock, who will be responsible for meeting regulation requirements and contractual arrangements. “The ACS delegates the fund management to us and we sub-delegate to our chosen fund managers,” Webster explains. “This model allows us a good degree of flexibility when choosing investment managers. The ACS also performs risk control, adding an additional level of governance and control over our transactions for clients. All in all, it’s a good decision for our shareholder client funds in the Brunel partnership.”

Revel Wood, CEO at FundRock says: “We are delighted to be embarking on a long-term partnership with the Brunel team, combining our strong heritage of fund governance and the innovation of Brunel to deliver a robust and efficient pension pooling solution.”