Investment Consulting

Who we are

Momentum Investment Solutions & Consulting (Momentum ISC) is a team of experienced investment consultants set up to provide independent advice to UK pension schemes.

We have a wealth of experience spanning strategic advice, risk management, portfolio construction and implementation. In an industry that is moving towards ever-increasing specialisation, we see the value of having experienced generalists who can step back and see the big picture.


Richard Cooper

Richard Cooper, FIA

Head, Momentum ISC
24 years industry experience

Marc Devereux, FIA

15 years’ industry experience

Peter Hall

Peter Hall, FIA

10 years’ industry experience

Raj Goswami, CFA CAIA

14 years’ industry experience

Reena Thakkar, FIA

16 years’ industry experience

What sets us apart?

As a team we believe we are well placed to help improve the financial management of our clients’ pension schemes for the following reasons:

Experience
Advising large, complex schemes on all aspects of investment policy for over 15 years, with a particular emphasis on the importance of strategic objectives, dynamic de-risking, liability hedging and other structured solutions.
Innovation
One of the first to advise on de-risking frameworks, z-spread portfolios, and forward rate hedging frameworks with a desire to continue to improve and evolve solutions for clients.
Independence
We are free to operate solely in the best interests of our clients, and are able to consider investment propositions that simply would not appeal to bigger advisory firms.
Collaborative approach
The best outcomes are achieved by working together with clients, other advisors, and fund managers and this has been our approach for many years.

Our approach

1. Setting strategic objectives

  • Establish long-term strategic aims
  • Determine risk tolerance
  • Translate strategic aims into quantitative risk and return objectives
  • Where appropriate, formulate a de-risking plan and translate into a dynamic risk budget

2. Spending the risk budget

  • Consider and quantify the risk and reward from not fully hedging the liabilities
  • Focus on diversifying risk premia or sources of return rather than capital allocations
  • Focus on the fundamental rationale for investing in a particular asset class rather than relying too heavily on what the models say

3. Implementation and monitoring

  • Structure mandates to be precise (i.e. to isolate the desired premia from pre-packaged exposures)
  • Diversify across risks and managers
  • Ensure monitoring allows you to focus on the big picture

4. Governance

  • Good governance structures enable timely decisions, made by individuals best placed to evaluate the available options
  • No single solution is optimal for all clients, so we approach governance with an open mind and enthusiasm to debate and consider the merits of different approaches

Our services

We provide advisory services across all aspects of investment policy management, including:

  • Investment strategy: Objective setting and journey planning, including asset and liability modelling
  • Risk management: Establishing a risk appetite, dynamic risk budgeting and risk monitoring
  • Liability hedging: Quantifying risk/return from under-hedging and incorporating into risk budget, establishing a liability hedge target, implementation frameworks and monitoring
  • Manager structuring, selection and monitoring: Structuring based on a qualitative assessment of manager’s philosophy and process, and a quantitative assessment of ‘fit’ using correlation analysis and/or portfolio analytics
  • Operations management: Transitions co-ordination, cash-flow management, rebalancing, currency hedging and compliance
  • Governance: Policy checklist, business plans and governance advice

Momentum Investment Solutions & Consulting
2nd Floor, Arundel House, 1 Farm Yard,
Windsor SL4 1QL
P: +44 (0)1753 342302
E: margaret.miles@momentum.co.uk
 
Global Investment Management