Cardano, the investment management and advisory specialist, has today announced that its Discover AI covenant tool will be available through Knowa.

This integration with Knowa brings Cardano’s Discover AI covenant analysis closer to the Trustees’ fingertips, empowering them with real-time covenant insights within the Knowa platform. The information provided by Discover will also be accessible via Knowa Q, allowing effortless AI-powered querying and summarisation.

Discover’s covenant AI, launched in November 2022, uses Cardano’s unique database of historical covenant assessments, along with AI technology, to provide automated proportionate covenant analysis and news monitoring for schemes.

It is designed for schemes where high-level covenant analysis may be more appropriate, including well-funded schemes or schemes with simple covenant structures. Discover can also conduct AI-led reviews of the underlying employers of sectionalised or non-associated multi-employer schemes, including local government pension schemes.

Knowa is an AI-powered, comprehensive governance platform that serves as a single source of truth for trustee board management. By seamlessly integrating secure collaboration, meeting packs and document storage with automated workflows and governance requirements (from ESOGs and risk registers to tracking budgets), Knowa simplifies the day-to-day management of the Board, enhancing effective board oversight and strategic thinking.

Felix Mantz, Senior Director, Cardano, said: “Covenant strength is very important to member outcomes, but monitoring it effectively and proportionately can sometimes be tricky – despite being a key requirement under the general code’s Effective System of Governance. Cardano’s Discover AI covenant module combines Cardano’s wealth of knowledge in this sphere with the cost and time-effectiveness of a modern AI solution to make this crucial analysis more streamlined and accessible. The integration into the Knowa platform is now a natural next step towards making covenant analysis readily accessible to trustees of schemes of all shapes and sizes.”

Will Henderson, Co-founder, Knowa, said: “From inception Knowa’s goal has been to deliver a profound and enduring transformation to Trustee Boards where collective board knowledge and memory is instantly accessible. By integrating Cardano’s Discover AI covenant tool into our platform, we enable trustees to easily access and interrogate crucial covenant information at the right time using AI. Covenant strength is a vital aspect of running a pension scheme, and we’re excited to work with Cardano to bring their valuable tools closer to trustees’ fingertips.”

Marcus Hurd, Managing Director of ndapt, Chair of Trustee for Citrus, said: “We have been using Discover for the Citrus DB master trust for over a year now, which helps us track the covenant strength of our over 30 sections in a proportionate but robust way. We are avid users of Knowa as our central hub of knowledge and decisions so now Discover is integrated into the platform, we can see all our crucial governance metrics in one place – with the added bonus of only having to remember one log in!”

• AI
• Pension Trustees