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Marks & Spencer Pension Scheme

PRI reporting framework 2020

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Basic information

OO 01. Signatory category and services

01.1. Select the type that best describes your organisation or the services you provide.

01.3. Additional information. [Optional]

The 'organisation' is a trust based UK approved occupational pension scheme, the sponsor of which is Marks and Spencer plc, a UK public listed company. The trustee of the scheme is Marks and Scheme Pension Trust Limited. The Scheme was closed to new entrants in 2002 and to future accrual from April 2017.

OO 02. Headquarters and operational countries

02.1. Select the location of your organisation’s headquarters.

United Kingdom

02.2. Indicate the number of countries in which you have offices (including your headquarters).

02.3. Indicate the approximate number of staff in your organisation in full-time equivalents (FTE).

6.5 FTE

02.4. Additional information. [Optional]

OO 03. Subsidiaries that are separate PRI signatories

03.1. Indicate whether you have subsidiaries within your organisation that are also PRI signatories in their own right.

03.3. Additional information. [Optional]

OO 04. Reporting year and AUM

04.1. Indicate the year end date for your reporting year.

31/03/2020

04.2. Indicate your total AUM at the end of your reporting year.

Include the AUM of subsidiaries, but exclude advisory/execution only assets, and exclude the assets of your PRI signatory subsidiaries that you have chosen not to report on in OO 03.2
Total AUM
trillions billions millions thousands hundreds
Currency
Assets in USD
trillions billions millions thousands hundreds

04.5. Additional information. [Optional]

OO 06. How would you like to disclose your asset class mix

06.1. Select how you would like to disclose your asset class mix.

Internally managed (%)
Externally managed (%)

 

Listed equity 0 0 <10% 5.2
Fixed income 0 0 >50% 74.5
Private equity 0 0 <10% 1.7
Property 0 0 <10% 2.7
Infrastructure 0 0 <10% 0.3
Commodities 0 0 0 0
Hedge funds 0 0 <10% 0.8
Fund of hedge funds 0 0 0 0
Forestry 0 0 0 0
Farmland 0 0 0 0
Inclusive finance 0 0 0 0
Cash 0 0 <10% 1.2
Money market instruments 0 0 0 0
Other (1), specify 0 0 <10% 4.1
Other (2), specify 0 0 <10% 9.5

`Other (1)` specified

`Other (2)` specified

06.2. Publish asset class mix as per attached image [Optional].

06.3. Indicate whether your organisation has any off-balance sheet assets [Optional].

06.5. Indicate whether your organisation uses fiduciary managers.

06.6. Provide contextual information on your AUM asset class split. [Optional]

The Trustee's strategy is to fully hedge real interest rate risks (using gilts, swaps and high-grade credit assets) and to look for opportunities to hedge longevity risk using insurance solutions (e.g. Buy-Ins). Other assets are increasingly allocated to matching longer-dated liability cashflows, with a declining allocation to diversified risk assets. The asset allocation is influenced by the liability profile of the Scheme and a desire to reduce reliance on the sponsor covenant.

OO 07. Fixed income AUM breakdown (Private)

OO 08. Segregated mandates or pooled funds (Private)

OO 09. Breakdown of AUM by market

09.1. Indicate the breakdown of your organisation’s AUM by market.

96.5 Developed Markets
3.5 Emerging Markets
0 Frontier Markets
0 Other Markets
Total 100% 100%

09.2. Additional information. [Optional]

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