Appointment of Independent Investment Advisers
South Yorkshire Pensions Authority is the public body responsible for the stewardship of the £10.5bn South Yorkshire Pension Fund which is a part of the Local Government Pension Scheme.
Having previously successfully managed most of its assets internally the Authority is now part of the Border to Coast Pension Partnership and is preparing to review its investment strategy in the light of the March 2022 valuation of the Fund which is expected to show that the fund is fully funded.
The Authority is now seeking to appoint an independent adviser to succeed Leslie Robb and to work alongside its continuing adviser Aoifinn Devitt, with effect from 1st September 2022. The adviser will be expected to:
- Attend meetings of the Authority to advise on investment related issues when they are discussed (usually 5 in any financial year comprising both formal and informal sessions).
- Attend meetings with officers to provide advice on the development of strategy and assist in the monitoring of the performance of fund managers (a minimum of 6 in any financial year).
- Assist in the delivery of training for members of the Authority (usually one half day seminar in each financial year)
- Assist officers in the development of investment strategy at each valuation of the Fund through participation in workshops involving the Fund’s actuary and investment consultant (estimated at 2 days in every third year in addition to the above requirements)
Candidates for the roles will possess:
- Significant experience in advising lay trustees or elected members in relation to the investment of pension scheme assets;
- Deep knowledge of the investment management industry and the factors which influence investment performance;
- A significant ability to communicate complex issues to a “lay” audience.
- Experience of working with the local government pension scheme
The adviser will be appointed for an initial term of three years with the possibility of two extensions up to a maximum term of 10 years.
Advisers will be paid a fixed VAT exclusive fee of £20,624 per annum (plus expenses) with additional days over and above the norm paid at an agreed rate. Fees will be reviewed annually each September in line with the Consumer Prices Index.
Applications will be accepted from individual advisers supported by a firm. However, the Authority is not looking to appoint an investment consultancy, but a specific individual.
Details of this opportunity together with contractual documentation can be accessed through the Yortender portal here.
Information about the Authority and its work can be found at www.sypensions.org.uk
The closing date for applications is 15th July. Informal pre-presentation discussions will take place via Teams on 25th July and interviews will be held by the Authority’s Appointments Committee on 26th July in Barnsley.
Any queries, please contact Annie Palmer at apalmer@sypa.org.uk
