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Public sector pension funds come in many different shapes and sizes. Some were set up to fund the retirements of central or local government officials, or people working in a nationalized industry, or the employees of state-funded services such as schools, universities or hospitals. State-backed but fully funded pension schemes to cover entire populations are now also being set up. In addition, there is a growing number of so-called sovereign wealth funds, established to transform windfalls from natural resources into a return for future generations. Thomas Murray is advising funds of these kinds on the appointment and monitoring of global custodians against service level agreements (SLAs) and industry best practices. The firm also helps public sector funds understand and manage infrastructural risks.
Benefits:
Our services will ensure that clients:
- Select the most appropriate service provider
- Are not exposed to unnecessary risks
- Achieve the most competitive terms
- Are able to quantify "hidden" costs e.g. foreign exchange execution.
Clients:
AIM Corp., Caisse de dépôt et placement du Québec, Cambridgeshire County Council, City of Edmonton, Civil Aviation Authority, Cornwall County Council, Corporation of London, CPP Investment Board, Devon County Council, Dorset County Council, Ealing Council, East Sussex County Council, Environment Agency, Essex County Council, Fjarde AP-Fonden, Government of Alberta, Greater Manchester Pension Fund, Halifax Regional Municipality, Lancashire County Council, London Borough of Hillingdon, London Borough of Hounslow, London Borough of Redbridge, London Pension Funds Authority, Malta Financial Services Authority, New Zealand Superannuation Fund, North Yorkshire County Council, Nova Scotia Pension Agency, OPB, QIC, QNB, Queens's University, Rhondda Cynon Taf, Teachers' Pension Plan, University of Guelph, West Sussex County Council, Wiltshire County Council.
Please click below for real examples of Thomas Murray’s work with government entities.
Thomas Murray was engaged by a local authority pension fund with £900 million in segregated assets. The client required an integrated solution with the service provider providing custody, investment accounting and performance measurement. As a fully third party managed fund, it relied on the service provider for reporting.
The key outcomes of the engagement were;
- a 75% reduction in fees paid,
- a significant improvement in contractual responsibilities assumed by the service provider, and
- a new provider being chosen.
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