Unisys pension schemes appoint Cardano as FM

The Unisys UK Pension Trustee has appointed Cardano to act as the fiduciary manager (FM) of the Unisys Pension Scheme, Unisys Payment Services Pension Scheme (Unisys Section) and Unisys Public Sector Pension Scheme.

Cardano was appointed following a competitive tender process completed in January 2022, with Isio advising the trustee during the selection process.

As the schemes’ FM, Cardano will provide services including investment advice, investment management, sustainable investing and risk management for the schemes’ £1.2bn of assets, including growth and liability hedging portfolios.

This new mandate adds to Cardano’s total client assets under management of £50bn, as of January 2022.

Unisys Limited, part of the Unisys Corporation, is the schemes’ principal employer, and operates as a global information technology solutions company that aims to deliver advanced technology solutions to businesses and governments worldwide.

“The trustee appointed Cardano after a governance review and a competitive selection process,” commented Independent Trustee Services director and trustee chair, Hetal Kotecha.

“We were attracted by Cardano’s integrated approach to pension investing and risk management and we look forward to working together for the benefit of our schemes’ members.”

Cardano partner, Patrick Cunningham, added: “We are delighted by this appointment and look forward to working with the trustee, the schemes’ sponsor and other advisers to help secure members’ benefits.

“Our focus will be on integrated consideration of funding and investment risks to achieve steady improvement in the schemes’ funding levels over time and across a wide range of market scenarios.”

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