ACCESS Re-appoints Waystone as Pool Operator
The re-appointment of Waystone as the FCA authorised Operator follows a rigorous open tender procurement process run by the ACCESS Pool with the assistance of Hymans Robertson.
ACCESS recently announced its intention to establish its own FCA authorised investment management company. Efforts are underway to establish the IM Co, which will be responsible for portfolio management, legacy oversight capabilities and enable the pool to provide further value for money and the economies of scale that we have delivered to date.
Waystone, the largest independent Authorised Corporate Director (ACD) in the UK, will continue to operate an Authorised Contractual Scheme (ACS), including bespoke insurance coverage, on behalf of the ACCESS Pool. The use of an independent Operator brings resilience to the model ACCESS has developed and will be further expanded on as we develop our Investment Management capabilities.
Cllr Mark Kemp-Gee, Chairman of the ACCESS Joint Committee, said: “Waystone will continue to deliver the ACS for our listed assets along with significant value for money and economies of scale for our members and we are pleased it was successful again. We look forward to continuing with what has been a great collaboration with the team, as we transition to becoming an FCA-regulated pool Investment Manager in our own right.”
Karl Midl, Waystone Country Head – UK and CEO of Waystone’s UK ACD said: “We are delighted to have been re-appointed as the Operator for the ACCESS Pool and to continue the strong partnership we have built over the past seven years. Winning this contract for a second time is a testament to the expertise and dedication of our team in delivering exceptional service. We look forward to supporting ACCESS as it evolves and continuing to build on our partnership.”
About ACCESS Pool
ACCESS (A Collaboration of Central, Eastern and Southern Shires) is made of 11 LGPS Administering Authorities: Cambridgeshire County Council; East Sussex County Council; Essex County Council; Hampshire County Council; Hertfordshire County Council; Isle of Wight Council; Kent County Council; Norfolk County Council; West Northamptonshire Council; Suffolk County Council; and West Sussex County Council.
ACCESS Authorities are committed to working together and have each signed an Inter Authority Agreement, setting out how they will work together in response to the Governments pooling agenda across the LGPS, and to optimise benefits and efficiencies on behalf of their individual and collective stakeholders.
As at 31st January 2025, ACCESS’ pooled assets totalled £52bn.
About Waystone
Waystone is a leading provider of institutional governance, administration, risk and compliance services to the asset management industry. Partnering with institutional investors, investment funds and asset managers, Waystone builds, supports and protects investment structures and strategies worldwide.
With over 20 years’ experience and a comprehensive range of specialist services to its name, Waystone provides its clients with the guidance and tools to allow them to focus on managing their investment goals with confidence.
For More InformationWaystone press contact:
Lizzie Murray, Vested
[email protected]