Scheme Actuary - Aon Hewitt Limited
The primary role of the actuary is to provide the fund with information about the fund’s liabilities and the best way of meeting these liabilities. A valuation of the fund takes place every three years that enables the actuary to calculate liabilities versus the fund’s assets. The actuary will then recommend appropriate contribution rates for employers to help prevent any future shortfalls.
Hewitt were appointed as the scheme’s actuary in October 2003.
Fund Managers
The investment of the Pension Fund’s assets is the responsibility of external Fund Managers appointed by the Fund. These Fund Managers are given specific mandates and performance targets, which are monitored by the Rhondda Cynon Taf Investments Panel at quarterly meetings.
Baillie Gifford Asset Management
Baillie Gifford is an Edinburgh based investment management partnership founded in 1908.
They were appointed by the fund to manage global equities in 2005, and now have two separate equity mandates.
BlackRock Investment Management
BlackRock is one of the largest asset management firms in the world, across a broad range of investment assets.
They were appointed to a UK equity mandate by the fund in 2010.
F & C Management
F&C is a major asset management company and a leading authority on responsible investments.
Their relationship with the fund originally dates from 1994, and they currently manage a global bond mandate.
ING Real Estate
ING is one of the largest real estate managers in the world, with its origins in the Netherlands. They were appointed to the fund in 2007 to manage a UK and European property mandate.
Invesco Perpetual
Invesco Perpetual is an investment company based in Henley-on-Thames. Their head is Neil Woodford, one of the most highly regarded managers in the industry. They were appointed in 2010 to manage a UK equity mandate for the fund.
Legal & General Investment Management
Legal & General Investment Management is a major investment manager, and one of the largest index-tracking managers in the world. They were appointed by the fund to manage a global passive equity/bond mandate in 2010.
Newton Investment Management
Newton is a major investment house, best known for its distinctive thematic investment approach. They have managed a high-performance global equity mandate for the fund since 2008.
State Street
State Street is a leading U.S. based provider of financial services to institutional investors. State Street provides a custody and performance measurement service for the RCT Pension Fund
Wales Audit Office
The Wales Audit Office is independent of government and is responsible for the annual audit of some £20 billion of annual public expenditure. Its mission is to promote improvement, so that people in Wales benefit from accountable, well-managed public services that offer the best possible value for money.
AVC Provider - Prudential
Prudential were appointed as the fund’s Additional Voluntary Contributions (AVC) provider in 2002, and as a leading Local Government AVC provider, they work closely with our Pensions Section in ensuring members are aware of their options in topping up their existing pension provision.