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Brunel names Tutman as new ACS manager

Brunel is pleased to announce the appointment of Thesis Unit Trust Management (Tutman) to operate Brunel’s Authorised Contractual Scheme (ACS).

Our choice of Tutman for its UK tax transparent collective investment scheme will see the scheme renamed TM Brunel Pension Partnership ACS. The scheme had more than £12 billion AUM (as at 30 June 2023).

“We have been following the government’s initiatives regarding pooling over the last few years, and Brunel’s success in building a strong, investor-focused fund management group, in particular,” said David Tyerman, Chief Executive Officer at Tutman. “We are very pleased to have been chosen to partner a firm with such clear values.”

The operating model provides for scalable growth with a highly regarded professional alternative investment fund manager (AIFM). As ACS operator, Tutman performs oversight and governance services for ACS investments, ensuring the delivery of regulatory functions, while delegating investment management back to Brunel.

“The big advantages for our investors are the flexibility of the model with no capital investment and the associated independent regulatory oversight,” said Joe Webster, Chief Operating Officer at Brunel. “Tutman has a deservedly strong reputation in this area and we are delighted to be forging this new partnership.”

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Brunel appoints Tutman as ACS manager

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Brunel Pension Partnership has appointed Thesis Unit Trust Management (Tutman) to operate its authorised contractual scheme (ACS).

Brunel manages approximately £38bn in investments for 10 Local Government Pension Scheme (LGPS) funds: Avon, Buckinghamshire, Cornwall, Devon, Dorset, the Environment Agency, Gloucestershire, Oxfordshire, Somerset and Wiltshire.

As of 30 June 2023, Brunel’s ACS had more than £12bn in assets under management.

As part of the move, the scheme will be renamed as TM Brunel Pension Partnership ACS.

Commenting on the appointment Brunel said that Tutman’s operating model provides for scalable growth with a “highly regarded” professional alternative investment fund manager.

Tutman will perform oversight and governance services for ACS investments, ensuring the delivery of regulatory functions, while delegating investment management back to Brunel.

Joe Webster, chief operating officer at Brunel, said the big advantages for Brunel’s investors are the flexibility of the model with no capital investment and associated independent regulatory oversight.

He said: “Tutman has a deservedly strong reputation in this area and we are delighted to be forging this new partnership.”

David Tyerman, chief executive officer of Tutman, said the firm had been following the government’s initiatives regarding pooling over the last years and Brunel’s “success in building a strong, investor-focused management group” in particular.

He said: “We are very pleased to have been chosen to partner a firm with such clear values.”

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THESIS UNIT TRUST MANAGEMENT LIMITED

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Chichester Thesis Asset Management Limited Exchange Building St John's Street Chichester West Sussex PO19 1UP

Tel: +44 (0)1243 531 234 Fax: +44 (0)1243 539 094 Contact:

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