IN BRIEF: Aberdeen becomes Stagecoach Group Pension Scheme sponsor

Aberdeen Group PLC - Edinburgh-based asset manager - Agrees to become the sponsoring employer of the Stagecoach Group Pension Scheme, which has over 22,000 members, assuming responsibility for the scheme’s funding and managing its £1.2 billion in assets. Says it will receive a minority share of any future distributed surplus with the majority earmarked for members, and that due to SGPS’s ‘strong funding position’ the sponsorship will ‘have no significant impact on Aberdeen’s capital position’. SGPS has ‘a strong surplus position’ and ‘will continue to ’run on’’. Aberdeen says the strong alignment between it and SGPS supports investment in productive assets, and provides the opportunity to grow the surplus to increase members’ benefits.

‘The deal leverages Aberdeen’s pension investment solutions and private markets expertise, with potential for infrastructure, private credit and real estate investment,’ the company says. ‘It also aligns with broader efforts championed by the UK Government to invest pension assets more productively. With over [£200 billion] managed globally for pension and insurance clients, Aberdeen is well-positioned to deliver long-term value through diversified investments.’

Current stock price: 201.80 pence

12-month change: up 43%

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