Schroders Investment Management Ltd. is appointing Shawn Cohen as institutional director, a role aimed at building relationships with defined contribution record keepers and third-party asset managers in Canada.

Reporting to Ross Servick, Schroders’ head of Canada, Cohen joins the firm from MFS Investment Management Ltd., where he was most recently director of relationship management. Prior to that role, he held a number of positions at Aon Hewitt, including investment consultant and national defined contribution practice leader.

Schroders is also launching a new product in Canada, called Schroder MyRetirement Funds, which consists of target-date funds tailored for the Canadian retirement market. “The post-retirement landscape is changing and the launch of the Schroder MyRetirement Funds will bring a lifetime solution to participants that manage both the accumulation and decumulation stages of their lives,” said Cohen in a news release.

Read: DC Plan Summit: Optimizing the member’s journey to retirement

The funds offer maturation dates every five years from 2015 through 2060, depending on the person’s age, lifespan and income. “After years of extensive research and analysis, we are excited to bring a target-date solution to address the growth and income challenges plan sponsors and their members face,” said Servick in the release.

“This fund will manage our clients’ investments not just until they reach retirement age but beyond retirement, seeking to provide an attractive income for their active and late retirement years. The addition of Shawn Cohen to the team demonstrates our commitment to delivering world-class solutions to record keepers, consultants and plans sponsors in Canada.”

Read: Canada’s DC industry thriving despite constant need to tinker

Copyright © 2019 Transcontinental Media G.P. Originally published on benefitscanada.com

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