We use two investment funds to achieve our objectives.
Protection and safeguarding
We employ a custodian to protect the Scheme funds by holding them in a ring-fenced account, separate from both NOW: Pensions and the custodian’s own money.
Our custodian is BNY Mellon, one of the world’s largest custodians. It looks after over US$30 trillion on behalf of pension schemes and other investors.
It has strong credit ratings: for example, the credit rating agency Standard and Poor’s rates it AA (low) for long-term deposits.