Member

Amendments 71 and 76, from the noble Baroness, Lady Altmann, seek to ensure that a master trust or GPP can manage assets without being mandated to follow a common investment strategy. That would drive away delivery of the benefits of scale, as a common investment strategy is important to the operation of the main scale default arrangement. In fact, it is the mechanism by which the benefits of scale are actually realised. It provides consistent governance over a unified pool, lower fees and access to a broader range of assets.