Summer 2026 Investor Agenda

Welcome to our Summer 2026 edition of Investor Agenda

Not surprisingly, we focus in this edition on the long-awaited Pension Schemes Act 2026; and in particular the primary investment-related part of it – the contentious “mandation” provisions – although we will also have a long wait before we can expect to see implementing regulations under these provisions, as these cannot be made until 2028.

We also include an article on terms to consider in contracts for “fiduciary management” – sometimes known by other names such as delegated consulting, implemented consulting or outsourced CIO. Fiduciary management has been another long haul with AUM below only c.£100bn before 2010 and reports suggesting c.£250bn now, perhaps driven in part by the increasing complexity and governance burden of investment decision-making for trustees.

As always please do get in touch with me or your usual Linklaters contacts if you have any comments or topics you would like us to cover. Meanwhile, best wishes for an enjoyable (and typically long-awaited) summer.