XPS Pension Group appointed as investment advisers to the Harrods Group Pension Plan
XPS Pensions Group, the UK specialist in pensions, investment and administration services is pleased to announce its appointment by the Trustee of the Harrods Group Pension Plan to provide investment advice, following a competitive tender process.
Harrods Group can trace its roots back 170 years. It is best known for its Knightsbridge department store focused on luxury, elegance and service. The Group has a £700m pension scheme. Strong Group support in recent years has resulted in it reaching a position where significant de-risking is possible. The Trustee sought an advisor to partner with them in this journey.
David Fripp, Chair of Trustee for the Plan commented: “We selected XPS Pensions Group to provide investment advice to the Plan because we felt they would be a great fit for us. They really listened to the brief and came up with solutions that were tailored to our objectives and challenges. We were particularly impressed by the quality of their people and their very clear communication.”
Ben Gold, Head of Investment, Leeds at XPS Group, commented: “We are delighted to be working with the Trustee of this iconic and highly respected brand. We’re pleased that we can use our experience in Cashflow Driven Investment (CDI) with the Trustee. Adopting a CDI strategy will help the Plan significantly de-risk to ensure its members receive their benefits in full.”