Governance
- The oversight of the quality and integrity of accounting and reporting practices, controls and financial statements
- Reviewing performance of the internal audit function and the independent auditors
- Taking a forward-looking perspective on risk matters
- The oversight, quality and performance of the Risk Management and Compliance functions
The ARC membership consists of three independent non-executive directors of Mobius Life Limited.
We commission BDO LLP to conduct an independent audit to test our compliance with the AAF 01/20 internal control framework principles. Our annual company audit is performed by E&Y. Both audits conduct detailed sample testing across all aspects of the investment platform, with particular emphasis on the investment administration function.
In line with good industry practice, we operate a three lines of defence model with appropriate monitoring of processes and controls provided by the risk and compliance functions and assurance on the effectiveness of those controls provided by internal audit.
Diversity of the governing body
Mobius Life’s governing body has a Board Diversity policy in place to ensure composition of the Board displays diversity in its broadest sense, to enable it to benefit from a range of perspectives, insights and challenges to support good decision making. Recruitment to the Board is made on merit whilst seeking to ensure diversity of thought and experience.
Reporting and disclosures
Stewardship policy
Corporate social responsibility
Introducing ‘Smart Rebalancing’
Periodic rebalancing of a DB scheme’s assets to keep its overall portfolio in line with its chosen asset allocation and investment strategy is an essential part of keeping a scheme on its designated path.
Periodic rebalancing of a DB scheme’s assets to keep its overall portfolio in line with its chosen asset allocation and investment strategy is an essential part of keeping a scheme on its designated path.
For many schemes and their advisers, however, rebalancing has traditionally been a largely manual process with the associated transaction costs. Schemes also face the expense and potential out-of-market risks of transitioning assets between funds.
At Mobius Life we believe there is a better way. We have developed an innovative ‘Smart Rebalancing’ approach. This automates the rebalancing process, reducing risk and potential transaction costs for DB schemes.
‘Smart Rebalancing’ utilises the scheme’s cashflows each month to rebalance the scheme towards its benchmark holdings. We manufacture a blended fund for each scheme which reflects the liquid assets that would be included in the rebalancing process.
For cashflow-negative schemes we rebalance as the scheme draws down cash, for example, to pay pensions each month; this is achieved by automatically ‘topslicing’ the most overweight asset classes to pay benefits and bring the scheme back into line.
For cashflow-positive schemes, monthly contributions are automatically allocated to the most underweight asset classes.
‘Smart Rebalancing’ not only automates the rebalancing process but also significantly reduces the need for rebalancing at the quarter or year end. It also reduces risk and potential transaction costs for DB schemes.
Mobius Life Limited 2nd Floor, 2 Copthall Avenue, London EC2R 7DA
t: + 44 (0)20 7847 3300 f: + 44 (0)20 7847 3399 w: www.mobiuslife.co.uk
Mobius Life Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered in England and Wales at: 2nd Floor, 2 Copthall Avenue, London, EC2R 7DA. Registered No. 3104978. For your security telephone conversations may be recorded.
