Cardano has been working with the scheme’s trustees since the beginning of the year, advising on all aspects of the portfolio. The firm’s appointment was based on their clear approach in helping the trustees – and the sponsor – achieve a steady and stable growth in the funding ratio.
Richard Dowell, Head of Clients at Cardano, said, “At Cardano, we’re focused on the practical advice that we can provide to our clients that will help to put them in a better position to achieve their funding goals.
We’re delighted that the Western Power Distribution Group selected us as their partner based on the clear and directive approach that we recommended. The progress we have already made together to improve the robustness and resilience of the scheme has been fantastic, and we look forward to continuing to deliver improvements as we work with the trustees to help them achieve their objectives.”
Ian Williams, Chair of Trustees of the Western Power Distribution Group of the ESPS, added, “We have been working with Cardano for the last 6 months and during this time we have been impressed by the clarity of communication from the Cardano team and the positive impact that their approach to investing and risk management will have on the scheme. We are confident that we are better positioned and on track to achieve our funding objectives.”