Standard Life Investments

Liability Aware investment team

Our Liability Aware capability is an integral but distinct part of the multi-asset and macro investing team, recognising the additional challenges posed by managing assets in relation to liabilities. In particular, actuarial expertise forms a core part of our risk, development and client services areas. The specialists designing, implementing and managing our liability aware mandates primarily work in three groups.

Outcome-based Product Strategy & Solutions Team

Led by Mark Foster, the Outcome-based Product Strategy & Solutions Team contains three investment professionals with over 40 years’ actuarial and investment consulting combined experience. The team works with clients and their advisers to help them ensure the suitability of a particular liability aware mandate for an individual client solution.

Mark Foster

Mark Foster

Mark leads the Outcome-based Product Strategy & Solutions team where he is globally responsible for driving innovation and product strategy across LDI, CDI and looking to identify opportunities across regions and client types. Mark joined Aberdeen Standard Investments in early 2011 and is leading the continued development of our Liability Aware investment capability. He began his career at Aegon and was involved in advising pension schemes on a range of investment and actuarial issues. Mark then moved to Mercer’s Edinburgh office where he was a senior investment consultant. He was also part of their UK Strategy team, Financial Strategy Group and was leader of the Edinburgh team for his last two years. Mark has 19 years’ experience in the industry and 7 years’ experience at ASI.

Douglas Hogg

Douglas Hogg

Douglas joined in 2014, initially as a Client Director looking after a range of institutional clients across the UK, before joining the Outcome-based Product Strategies and Solutions team in April 2018. Douglas is a qualified actuary and previously worked as an actuary at the Punter Southall Group. Across his career Douglas has provided advice to both trustees and sponsoring employers of pension schemes on a wide range of issues from actuarial valuations to investment strategy reviews and designing de-risking solutions for his clients. Douglas has 15 years’ experience in the industry.

Peter Marsland

Peter Marsland

Peter is an Investment Director in the Product Strategy & Solutions team of Aberdeen Standard Investments and represents the LDI and CDI capabilities of the firm, developing new and customised investment solutions for clients globally. Peter initially joined SWIP in 2012, which was subsequently bought by Aberdeen, as an LDI Client Director and LDI Product Specialist, working closely with the Financial Solutions Group team. Prior to joining SWIP, Peter worked at Insight Investment, where he held the role of Client Director and was responsible for the relationship with LDI and fixed income clients. Prior to Insight, Peter held a Portfolio Manager role at AXA Rosenberg and Client Director roles at Fidelity and Morgan Grenfell (latterly DeAM).

Timea Varga

Timea Varga

Timea is responsible for developing initiatives across LDI, CDI and Outcome-based solutions. Timea joined Aberdeen Standard Investments in 2014 and worked within our Enterprise Risk Management Team where she was a Risk Consultant. Previously, Timea worked as a Trainee Actuary at PwC. As an Associate in PwC’s Pensions Consulting team, Timea was involved in a variety of work related to clients’ occupational DB schemes including valuations and risk management exercises. Timea has 6 years’ experience in the industry and 4 years’ experience at Aberdeen Standard Investments.

Multi-Asset Structuring team

Robert de Roeck

Robert de Roeck

Led by Robert de Roeck, the team consists of six people primarily responsible for the day-to-day portfolio management of our liability aware mandates, including ILPS portfolios. As part of its remit, the team undertakes ongoing monitoring of the liability hedge and ensures that liability hedging strategies are executed in the most cost-efficient and timely manner.

Liability Aware Investment Group

Stephen Acheson

Stephen Acheson

Chaired by Stephen Acheson, the 10-strong group combines expertise in macro-rates/inflation management, liability hedging and actuarial analysis. Its remit includes identifying shifts and trends in relevant markets to inform the views driving our liability aware mandates. The LAIG is responsible for adjusting the list of allowable hedging instruments over time, to take advantage of pricing anomalies or opportunities that might emerge over the economic cycle.

In recent years, increasing numbers of institutional investors have adopted liability-driven investment (LDI) strategies that aim to accumulate sufficient funding to meet both current and future liabilities. In particular, defined benefit pension plans have sought tailored LDI solutions that will deliver sufficient returns in order to maintain guaranteed pension income.

At Standard Life Investments, we have longstanding experience in constructing and managing flexible, client-specific LDI solutions. For example, in 2005 we developed a ‘liabilities-plus’ strategy for the pension plan of our parent group, Standard Life.

We are able to offer our clients tailored LDI solutions through our extensive skill-set and expertise across a range of asset classes including fixed income and multi-asset investing. We also have extensive experience using derivatives to achieve our clients’ goals.

To find out how we can help build an LDI solution that meets your requirements, please get in touch.