Investment consultant Mercer has launched its UK Mercer DB Master Trust, which offers defined benefit (DB) pension plan sponsors the potential for “enhanced governance and economies of scale to deliver better outcomes for members”, it said.Under the trust, Mercer will be responsible for providing all services including investment with fiduciary management, journey planning, actuarial services, covenant assessment, scheme management and administration, with trusteeship provided by independent professional trustees.The employer would maintain ultimate responsibility for the funding of the scheme, an announcement stated.This new solution adds to Mercer’s existing advisory and fiduciary offerings and ensures clients can access a full spectrum of approaches to select the best fit for their individual governance needs, it said. Benoit Hudon, leader of Mercer’s wealth business in the UK, said: “Managing employee pension schemes has become increasingly complex and many organisations suffer from time or cost constraints.”He said these challenges are “particularly acute” for smaller or mid-sized legacy DB schemes where often dedicated in-house expertise lacks, while access to best-in-class capabilities can be expensive.He added that the trust will “potentially reduce fees and improve outcomes”, while also giving members access to the largest administration of private sector pensions in the UK.The Mercer DB Master Trust has evolved from the Federated Pension Plan (FPP), an existing and long-established master trust initially set up by Jardine Lloyd Thompson that currently has around £260m (€280m) of assets and 73 participating employers.Additionally, Independent Trustee Services (ITS) and PTL have been appointed as additional professional trustees to work alongside PAN Trustees, which has been FPP’s trustee for more than 15 years.To read the digital edition of IPE’s latest magazine click here.
After winning its first two games of the season, the No. 2 men’s water polo team defeated UC Santa Barbara on Saturday 14-3 in its first home game of the 2016 season and then beat both Whittier and LaVerne in the Inland Empire Classic on Sunday in LaVerne.Coming into the match against the No. 6 Gauchos, the Trojans averaged just 3 goals allowed per game with goalkeepers junior McQuin Baron and redshirt freshman Simon Wu sporting 16 total saves.Against the Gauchos, the Men of Troy were efficient on both sides of the ball. On offense, USC had two players with hat tricks as junior two-meter Lachlan Edwards and leading scorer junior drive Matteo Morelli scored three goals apiece.The Trojans then traveled to the Inland Empire Classic at the University of La Verne to take on Whittier College Poets and the host La Verne Leopards.USC made quick work of both opponents, beating Whittier 27-3 and LaVerne 26-1.Next up for the Trojans is a match against Stanford on the road Saturday.