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British Airways appoints Blackrock to manage £21bn pension fund
By Momodou Touray 2
British Airways has appointed BlackRock to manage its £21.5bn pension fund.
The agreement covers the assets directly under management for Airways Pension Scheme (APS) and New Airways Pension Scheme (NAPS) which serve more than 85,000 members.
The partnership will see the transfer of the schemes’ investment management from its in-house provider British Airways Pension Investment Management Limited (BAPIML) to BlackRock.
BA Pensions’ decision to appoint an external investment manager is the first of its kind in the UK pensions industry at this scale.
Due to recent changes in pension regulation, many UK pension schemes are looking externally for investment management capabilities with the scale and resources to take on the challenges.
BA signs first of its kind £21bn deal with BlackRock pensions-expert.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from pensions-expert.com Daily Mail and Mail on Sunday newspapers.