Trafalgar House Pension Trust

Trafalgar House Pension Trust

Trafalgar House Pension Trust was established in 2006 as the vehicle for a UK private-sector pension scheme. The Trustee, Trafalgar House Trustees Limited, oversees administration and investment decisions. The trust runs a Returns Portfolio of equities, private equity, hedge funds, property, infrastructure and CLOs that targets 3.5 percent above liability returns. A Liability Managed Portfolio uses cash, swaps and Gilts to hedge inflation and interest-rate risk. Confirmed holdings include the Ruffer Total Return International Fund and the exited Macquarie European Infrastructure Fund II. Geographic exposure centers on the United Kingdom and Africa. The trust employs 51 professionals at its Farnborough headquarters. It maintains an African Portfolio and an Uncorrelated Portfolio, both monitored directly by the Trustee. Service providers include Cardano Risk Management Limited as investment advisor since 2006 and Gowling WLG as legal counsel since 2020. The trust operates through a corporate trustee structure that separates scheme administration from investment execution. This architecture allows direct oversight of specialized sleeves such as the African Portfolio without delegation to external managers.