Aerion Fund Management Ltd acts exclusively as the Principal Investment Manager to the National Grid UK Pension Scheme Defined Benefit section, an occupational pension scheme sponsored by National Grid Gas plc, a wholly-owned subsidiary of National Grid plc.

The UK gas industry was privatised in 1986 as British Gas plc, but was subsequently demerged into Centrica (1997), BG and Lattice (2000). In 2002, Lattice merged with National Grid to form one of the world's largest utilities whose principal activity is the operation of gas and electricity transmission networks.

Aerion, which is owned by the Trustee Company of the National Grid UK Pension Scheme, has 39 employees. These include a team of 26 investment professionals (including credit and quant analysts) who both select and monitor external managers and directly manage diversified portfolios of investments in UK equities, international equities, government bonds and credit. Aerion uses external information providers in the areas of manager research and investment portfolio risk analysis. The fund managers share market knowledge and sector expertise to provide top-down and bottom-up analysis supporting asset allocation and investment decisions. Aerion's back-office operations integrate key outsourced systems to provide settlement, accounting and information technology support.

Aerion Fund Management Limited is Authorised and Regulated by the Financial Services Authority.