The IPC Media Pension Scheme has appointed BlackRock as its fiduciary manager to look after assets of around £600m.

BlackRock’s responsibilities will include advising on and helping to design the scheme’s strategic asset allocation as well as the journey management framework, following an extensive analysis of potential downside scenarios. The services provided by BlackRock will include advice, training and support for the trustee as part of the transition to the new arrangements.

The appointment follows a rigorous open market selection process.The mandate will also include open architecture manager search, selection and de-selection and complete implementation services across all asset classes.

Commenting, IPC Media Pension Trustee chair Susan Andrews said: “Appointing a fiduciary manager was a big step for us, but the trustee and scheme sponsor were convinced that in a changing environment this was the right time and an appropriate way to change how we manage the scheme’s investment arrangements. BlackRock was appointed after a rigorous selection exercise on the back of their deep investment capabilities, risk focus and operational robustness. “

BlackRock head of UK strategic clients Andy Tunningley said he was pleased to have been selected by the scheme. “IPC Media Pension Trustee considers fiduciary management to be a logical step at this juncture in the best interests of the members and their investment governance and trusts BlackRock to be a robust, reliable partner capable of performing this service.”

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