Capita’s master trust signs up Schroders for default

Capita’s Atlas Master Trust has signed up Schroders to manage DC default proposition to its scheme members.

Capita Employee Benefits, which launched Atlas in 2015, will continue to administer the scheme, while Schroders will run the scheme’s default investment strategy, which will be built around a range of bespoke multi-asset funds.

In May, Atlas appointed Paul Trickett, formerly of Goldman Sachs, Towers Watson, Aviva and RailPen, as independent chair of Atlas’ investment sub committee to lead the delivery of the trustees’ investment strategy.

The Pensions Regulator estimates that total UK master trust assets will top £30 billion by 2025.

Atlas Master Trust chairman Alan Whalley says: We are excited to be working with Schroders, who have an outstanding and globally respected pedigree as investment managers, as we seek to strengthen Atlas’ investment strategy and the governance around it. It is crucial that the trustees of any master trust continually review their strategy and proactively seek to improve member outcomes.

Schroders head of UK institutional DC Tim Horne says: Atlas has grown rapidly since 2015 and we are excited to further help grow what has been a great success story in the DC space. The UK’s master trust market is poised for substantial growth and Schroders is well-placed to bring investment excellence to Atlas members.”