# Leonardo Helicopters Pension Scheme

Leonardo Helicopters Pension Scheme is a Pension Fund based in Middlesbrough, United Kingdom.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Middlesbrough, United Kingdom
- **Region:** Europe
- **Address:** PO Box 562, Middlesbrough, Somerset, United Kingdom, BA20 2YB
- **Founded:** 2011
- **Assets under management:** 1.57B (Altss estimate)
- **Website:** www.lhpensions.co.uk

## Regulatory record

- **Reports private funds:** No

## About

The Leonardo Helicopters Pension Scheme was established in 2011 to deliver retirement, health, and death benefits to employees of Leonardo UK Ltd. Leonardo SpA provides a parent-company guarantee. The scheme shares its trustee board and investment committee with the Leonardo Electronics Pension Scheme. Asset allocation centers on liability hedging, which accounts for the bulk of the $1.57 billion portfolio. Additional holdings include a UK property portfolio valued at $20.9 million, a $53.2 million return-seeking credit sleeve, and a $6.2 million commodities allocation. The scheme commits 0.1 percent to private equity through HarbourVest Partners and holds equity exposure via BNY Mellon and Vanguard funds. All investments remain within the United Kingdom and global developed markets. The scheme employs Schroders IS Limited as fiduciary manager and investment adviser, CACEIS as custodian, XPS Administration Limited as scheme administrator, and Isio Group Limited as actuary since 2023. It participates in the Pensions Consultative Committee and follows the UK Stewardship Code through its manager. In April 2024 the scheme closed to future accrual while continuing to manage existing liabilities. Governance is structured through a joint trustee board shared with the sister Leonardo Electronics scheme, creating a single decision-making body across two plans sponsored by the same corporate group.

## Sectors

- Private Equity
- Real Estate
- Fixed Income

## People

- Martin Flavell — Chair of the Trustee Board

## Questions

### Who runs investment decisions at Leonardo Helicopters Pension Scheme?

Martin Flavell chairs the trustee board. Schroders IS Limited acts as fiduciary manager and investment adviser, with decisions coordinated through a joint committee shared with the Leonardo Electronics Pension Scheme.

### How is Leonardo Helicopters Pension Scheme related to Leonardo SpA?

Leonardo SpA serves as the ultimate parent and provides a legally binding guarantee of support for the scheme. Leonardo UK Ltd is the principal employer.

### Does Leonardo Helicopters Pension Scheme participate in fund commitments or only direct deals?

The scheme allocates to private equity funds through HarbourVest Partners and maintains holdings in pooled equity and credit vehicles managed by Schroders and Vanguard.

### What asset classes does Leonardo Helicopters Pension Scheme hold?

The portfolio includes liability hedging assets, return-seeking credit, UK commercial and industrial property, diversified commodities, and equity exposure through external funds.

### Which service providers support Leonardo Helicopters Pension Scheme?

Schroders IS Limited provides fiduciary management, CACEIS acts as custodian, XPS Administration Limited handles administration, Isio Group Limited serves as actuary, and Burges Salmon LLP provides legal advice.

### What is the investment posture of Leonardo Helicopters Pension Scheme?

The scheme follows a liability-driven strategy with the majority of assets in hedging instruments designed to match changes in the liability profile.

### Does Leonardo Helicopters Pension Scheme maintain industry memberships?

The scheme participates in the Pensions Consultative Committee representing members of all Leonardo UK pension schemes and adheres to the UK Stewardship Code through its fiduciary manager.

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/leonardo-helicopters-pension-scheme

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