The UK’s largest defined benefit pension schemes are often seen as the gold standard in governance, supported by experienced trustees, advisers and in-house teams. Yet scale alone has not consistently delivered better investment outcomes. Growing complexity and blurred accountability are driving renewed interest in OCIO models, which offer clearer separation between strategic oversight and day-to-day implementation.

Read more in the latest Market Musings on how OCIO momentum is building as large schemes seek bespoke oversight.