# Wavin Limited Hepworth Building Products Pension Scheme

Wavin Limited Hepworth Building Products Pension Scheme is a Pension Fund based in Doncaster, United Kingdom.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Doncaster, United Kingdom
- **Region:** Europe
- **Address:** Doncaster, United Kingdom
- **Assets under management:** Undisclosed

## Regulatory record

- **Reports private funds:** No

## About

The Wavin Limited Hepworth Building Products Pension Scheme is a traditional UK defined-benefit occupational pension plan, established to provide retirement benefits to former workers of the Hepworth Building Products business. Hepworth, historically a standalone clay-and-plastic pipe manufacturer based in Doncaster, was absorbed into the Dutch-headquartered Wavin group, which itself became a subsidiary of the Mexican chemicals conglomerate Orbia (formerly Mexichem). The pension scheme is the deferred-pay obligation of that industrial lineage, not a profit-seeking investor. As a mature, closed corporate pension fund, the scheme operates almost entirely through external fiduciary managers and pooled fund vehicles. Its asset allocation is diversified — spanning UK and global equities, fixed income, liability-driven investment portfolios, and property — but individual manager mandates are typically disclosed only in annual report and accounts filings with the UK Pensions Regulator. There is no evidence the fund makes direct private-company co-investments or operates a venture portfolio. The scheme is governed by a board of trustees that mixes company-appointed and member-nominated directors. Ian Davies serves as Chairman, while Finance Director Jay Brown represents the sponsoring employer on the board. Member trustee Andy Gregory provides the statutory beneficiary voice. The trustee board carries the fiduciary duty to set investment strategy and monitor funding levels, measured against the statutory funding objective that UK law requires of all defined-benefit schemes. Unlike family offices or sovereign funds that compete for deal allocation, this scheme is a pure liability matcher. Its structural differentiator is its statutory purpose: the sole mandate is to secure promised pensions, not to generate carry for a GP or multiply a family fortune. The fund's posture — conservative, liquid, fully delegated — reflects the endpoint of a long industrial pension story, not the beginning of an investment platform.

## Sectors

- Diversified

## People

- Ian Davies — Chairman of the Trustees (Company Appointed)
- Jay Brown — Trustee (Company Appointed) and Finance Director of Wavin Ltd
- Andy Gregory — Member Nominated Trustee

## Questions

### How is the scheme related to Wavin Limited and Orbia?

Wavin Limited is the principal sponsoring employer, meaning it carries the ultimate obligation to fund any deficit. Orbia (formerly Mexichem), the Mexican industrial conglomerate, is the ultimate parent company of Wavin. The pension scheme itself is a separate legal trust, ring-fenced from the operating companies, with trustees who owe their fiduciary duty exclusively to scheme beneficiaries.

## Related profiles

- [Wavin Limited](https://altss.com/profile/wavin-limited)
- [WealthCo Financial Advisory Services](https://altss.com/profile/wealthco-financial-advisory-services)

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

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