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Major UK scheme adopts Dutch attribution model

Ortec Finance influencing the UK's biggest schemes

The UK’s £25bn (€27.1bn) Railways Pension Scheme (Railpen) announced last month that it had hired Ortec Finance for performance attribution analysis.

It is the latest major UK scheme to adopt the Dutch consultant’s attribution model, and it follows Ortec’s appointment to provide a similar service to the entire £256.8bn UK local government pension scheme (LGPS). It also counts two of the UK’s biggest pension funds – the Universities Superannuation Scheme and the BT Pension Scheme – among its clients.

IPE spoke to Ortec’s UK managing director Lucas Vermeulen to find out what some of the UK’s (and Europe’s) largest investors were getting from the Rotterdam-based advisory firm.

“If you are only analysing the reports from your asset managers, calculating returns compared to their benchmarks, that doesn’t take into account the decisions made before money is handed over,” Vermeulen says. “You have to analyse the bigger picture.”

Read more on Investments & Pensions Europe or read the full press release about this cooperation.