Verity Trustees adds Sharia-compliant Fixed Income Fund for DC members

TPTIM, the investment management arm of TPT Retirement Solutions which advised the Trustee Board to select HSBC as the manager for the newly added Fund. As such, the HSBC Global Sukuk UCTIS ETF, which will be added to members’ existing DC Self-Select Fund options.

The Fund complements the existing Islamic finance offering within VTL’s Self Select Funds, the Islamic Global Equity Fund, and satisfies the demands of its membership for Sharia-based investments.

A Sukuk fund primarily invests in Sukuk, which are Shariah-compliant, Fixed Income securities that do not pay any interest. Instead, investors receive periodic income generated by the underlying assets. The Fund VTL has selected has achieved positive absolute investment performance since its inception in January 2023.

The latest fund option will bolster the range of investment opportunities available to DC members looking to take a more active role in managing their retirement assets.

Commenting on the launch of the fund, Philip Smith, DC Director at TPT Retirement Solutions, said:

"We’re pleased to broaden out VTL’s Self-Select range with a Sharia-compliant Fixed Income option that meets member demand for a widening of Islamic investment options. The Sukuk Fund enhances the savings options available to DC members, and provides greater flexibility to build diversified, values-aligned portfolios.”

Notes to Editors

TPT Retirement Solutions (TPT) is one of the UK’s leading providers of workplace pensions with over 80 years’ experience of managing defined benefit and defined contribution pension schemes. It has £11.4 billion of assets under management (as at 30 September 2025) and more than 490,000 members.

TPT’s mission is to make pension schemes perform better for everyone, from the sponsoring employers and trustees to the members who are saving for the future. They are an innovative, forward-thinking organisation, investing in technology to improve the services they provide. TPT are ultimately owned by a pension fund, providing genuine alignment of interests with those of their clients and scheme members.

Our ownership

TPT Retirement Solutions Limited is wholly owned by Verity Trustees Limited in its capacity as trustee of The Pensions Trust.

TPT Investment Management Limited is a wholly owned subsidiary of TPT Retirement Solutions Limited.

Group Services & Regulation

Verity Trustees Limited is the corporate trustee of The Pensions Trust and The Pensions Trust 2016. It is a company limited by guarantee and is regulated by The Pensions Regulator. Registered in England and Wales under company number 00744017. Registered office: 5th Floor 3 South Brook Street, Aire Park, Leeds, England, LS10 1FT.

TPT Retirement Solutions Limited provides pension management and administration services to UK pension schemes. Registered in England and Wales under company number 09639961. Registered office: 5th Floor 3 South Brook Street, Aire Park, Leeds, England, LS10 1FT.

TPT Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FCA) and provides investment management and consultancy services to UK pension schemes. Registered in England and Wales under company number 14527587. Registered office: 5th Floor 3 South Brook Street, Aire Park, Leeds, England, LS10 1FT.