Maitland has been appointed to provide Eskom Pension and Provident Fund (EPPF) with its investment administration and management platform, which the company believes will offer greater efficiency in the management of its assets.
EPPF is one of the largest defined benefit pension funds in South Africa. It manages more than $9.7 billion on behalf of approximately 88,000 members.
The appointment of Maitland introduces changes to the EPPF’s asset administration and the company believes that this new partnership will enable it to improve efficiencies.
Sbu Luthuli, CEO at EPPF, said: “We are focused on providing maximum returns for our members and therefore, efficiency is an important enabler. In Maitland, we have found a partner that truly understands this, which puts us in the strongest possible position to deliver the best returns with greater efficiency.”
Following a rigorous selection process, Maitland was appointed to partner with EPPF in June 2013. The project took just short of 12 weeks to complete.
The EPPF deal brings the total value of assets and liabilities administered by Maitland to more than $200 billion.
