The ICI Pension Fund

The former industrial and chemical giant, and a former member of the FTSE-100 was Imperial Chemical Industries, known as ICI.

Today ICI has vanished but its legacy lives on, in the name of AstraZeneca, the pharmaceuticals are of ICI that was spun out from by its demerger to create Zeneca and the rest of the business was sold to Ineos and the remaining business such as Dulux, Polycell and Hammerite was sold to the Dutch chemicals company AzkoNobel.

The pension fund is still supporting former workers of ICI.

http://www.icipensionfund.org.uk

With assets of £8,602million  = £8.602 Billion.

The fund has to support:

417 Contributing members
47,586 Pensioners
9,816 Deferred pensioners

The £8.6 billion is managed by these fund managers:-

Alinda Capital Partners LLC
Ashmore Management Company Limited
BlackRock Advisors (UK) Limited
Genesis Investment Management LLP
Insight Investment Management (Global) Limited
Intermediate Capital Managers Limited
M&G Investment Management Limited
PIMCO Europe Limited
Rogge Global Partners Plc

The money is split across these asset classes:-

Liability linked Investments
Developed Market Equities
Emerging Market Bonds
High-Yield & Other Global Bonds
Leveraged Loans
Emerging Market Currencies
Infrastructure
Property

What is very interesting when one reads the small print of the pension fund of ICI, when ICI was bought, AkzoNobel guaranteed all ICI’s pension obligations.

 

Leave a Reply

Your email address will not be published. Required fields are marked *