News in brief: 4 January

Clear Fund, a service designed to help trustees and independent governance committees (IGCs) understand transaction costs, has endorsed Schroders flagship defined contribution funds.

Schroders was the first fund manager to sign up to service, launched by independent trustee firm PTL, and has now had its funds accredited by Clear Fund, highlighting their value for money regarding their transaction costs and providing assurances for DC trustees and IGCs.

Commenting on the accreditation process, PTL managing director, Richard Butcher, said: “Throughout the process, Schroders has worked really hard to provide us with what we needed to carry out our rigorous Clear Funds assessment. Schroders has shown real diligence in providing the full range of costs and the detail we needed on its cost control procedures.”

Brunel Pension Partnership has become a first close investor in NTR’s Renewable Energy Fund II.

It is Local Government Pension Scheme pool’s second investment into infrastructure since its formation in 2017. The scheme is hoping to deliver a predominantly greenfield renewable energy generation assets in Western Europe. The fund has so far attracted commitments of €229m, with €145m secured in its first close. It is targeting a total investment of €500m.

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