News in brief - 9 April 2020

The Pensions Administration Standards Association (Pasa) has announced Origo as its new expert partner for dashboard and transfers.

The firm will provide "key" insight to support Pasa's Dashboards Working Group in guiding industry stakeholders on how a dashboard ecosystem could affect them. Origo will also provide insight to help build on the associations consultation on DB transfers, as well as allowing them to "turn the light on DC transfers”.

The Border to Coast Pensions Partnership has launched its first fixed income product with a £2.5bn Sterling Investment Grade Credit fund.

Three investment managers, Insight Investment, M&G and RLAM, have been selected to manage the fund, each with a “distinct role” to play in the portfolio. The fund is expected to see aggregate fee savings of around £500,000 pa, with initial investors including East Riding of Yorkshire, Lincolnshire, Tyne & Wear, South Yorkshire and Warwickshire. The launch saw a complex transfer of assets, with over £2.1bn traded over 4 weeks amid “volatile market conditions”. This was completed via a “risk-managed transition strategy” implemented by transition manager for the fund, BlackRock.

Quilter has established a telephone-based service focused on increasing access to professional financial planning services.

The service will allow customers access to financial advice without a face to face meeting, a crucial requirement throughout the current Covid-19 pandemic. Despite being a relatively new operation, the team already has around 2,000 clients, with average customer assets of around £25,000. The service will be offered on a permanent basis following the current crisis, with a focus on those who would rather a remote service, or with less than £50,000 in investible assets.

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