Stoneport selects Mobius Life as investment platform to host its investment funds for DB schemes

17 December 2021

Author

Mobius Life

The Mobius platform is a major step forward for Stoneport, which helps smaller schemesreduce their running costs, improve their governance, and increase thelikelihood of member benefits being paid in full.

Stoneport, the UK consolidator for small defined benefit schemes, has appointed Mobius Life (Mobius) as its investment platform provider. The Mobius platform is a major step forward for Stoneport, which helps smaller schemes reduce their running costs, improve their governance, and increase the likelihood of member benefits being paid in full.

Stoneport runs a scheme that allows participating employers to retain a share of control in their investment strategy, whilst also being part of a consolidator vehicle that will enable them to target buyout in the longer term. Stoneport aims to have assets of around £2.5-£3.5bn once it has fulfilled its quota. Stuart Southall, an Independent Trustee of Stoneport, said: “We are delighted to be working with Mobius Life - the UK’s only truly independent institutional pension platform which is solely focused on delivering exceptional investment administration which accurately and cost-effectively implements schemes’ strategies.”

The appointment of Mobius is a major milestone for Stoneport and highlights how it can provide a first-class service to small schemes at affordable prices. The platform will host most of Stoneport’s investment funds – which small schemes will be able to access via Stoneport, without having to do their own market review. The appointment of Mobius will enable most small schemes to transition their existing funds to Stoneport easily. Stoneport appointed Mobius on the recommendations of the trustees’ adviser, Barnet Waddingham. Ian Mills, Partner and Senior Investment Consultant at Barnet Waddingham said: “We were delighted to advise the Stoneport trustees on their appointment of Mobius.

“The trustees asked us to look at ways that incoming schemes’ assets can be transferred in to Stoneport efficiently and then managed cost-effectively during the scheme’s growth phase. As independent advisers we considered a wide range of different investment structures to get the best possible results for our client, the appointment of Mobius will in-turn help the scheme reach its desired outcomes.”

Adrian Swales, Chief Executive at Mobius Life said: “Stoneport has developed a truly innovative approach to small pension scheme consolidation, which will help to protect members’ benefits and reduce the cost and governance burden for sponsors.

“We are delighted that Stoneport has chosen Mobius as its investment administration platform. Our independent and innovative approach to delivering platform services offers Stoneport a highly efficient investment administration service. This will enable them to respond quickly to developments in investment strategy, transition and onboard additional schemes efficiently and benefit from rebalancing and de-risking opportunities as they occur.”

Small DB schemes with less than 1,000 members each are responsible for providing the retirement benefits of almost one million members, but these individuals are split across some 4,350 different schemes, nearly all separately administered.

Along with increased legislative pressures and a lack of scale to run efficiently, small schemes end up shouldering running costs of more than £1,000 per member, per year. This compares to less than £100 for the largest schemes.

Created and managed by Punter Southall, with actuarial, administration and investment advisory services provided by Barnett Waddingham, Stoneport is the only consolidator to offer a solution targeted at small schemes, who stand to benefit most from consolidation.

 

-ENDS-

 

For further information, please contact:
Mobius Life, Mike Lord
E: [email protected]
M: +44 (0)7831 401 311

Notes to Editors:
Mobius Life (www.mobiuslife.co.uk) Mobius Life is the market-leading institutional investment platform. Over 800 DB and DC pension scheme clients trust us to administer c.£25 billion of their members’ assets. We’re different to everyone else – we are independent, so our entire focus is on providing solutions for pension schemes.

Our clients benefit from the most innovative solutions in the market, driven by our award-winning ideas culture and can-do mindset.

Our track record of delivery is second to none which makes us the trusted partner of choice for UK DB and DC pension schemes. Mobius Life won the Institutional Pension Platform of the Year award at the 2019, 2020 and 2021 Professional Pensions Awards and the Pensions Age Innovation (Investment) Award 2021.

Stoneport is a consolidation vehicle for occupational defined benefit pension schemes in the UK with fewer than 1,000 members. It was conceived and developed by Punter Southall and will be managed by Stoneport Pensions Management Limited, a wholly owned subsidiary of Punter Southall. Barnett Waddingham provide administration services plus the actuarial and investment advisory services required to operate Stoneport. Stoneport will be regulated by the Pensions Regulator, just like the small schemes it provides a solution for.

Punter Southall has been developing new ways to transform people's financial future, since 1988. We help our clients to discover and seize the right opportunities. By listening to them and understanding their needs, we change and adapt our portfolio of companies and services to help deliver their goals. We work with pension schemes, employers, insurers, charities, and private clients to provide expertise in pensions and investments, wealth management, workplace savings, health and protection, and financial data.

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Mobius Life Limited 7th Floor, 20 Gresham Street, London EC2V 7JE
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: 7th Floor, 20 Gresham Street, London, EC2V 7JE. Registered No. 3104978. For your security telephone conversations may be recorded.

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