Copying and distributing are prohibited without permission of the publisher
Midcounties pension fund opts for Towers Watson
07 October 2013
£145m pension scheme appoints Towers Watson's delegated investment service unit
Midcounties Co-operative Pension Scheme
delegated investment service
The £145m Midcounties Co-operative Pension Scheme has appointed Towers Watson as fiduciary manager for its investment portfolio.
Towers Watson said the appointment followed nine other fiduciary management mandates it had won in the past six months, which took the total assets under management at the firm's delegated investment service unit to over $6.5bn, while global fiduciary management assets stood at over $60bn.
Chris Ford, EMEA head of investment at Towers Watson, said: “We are delighted that the Midcounties Trustee has appointed us in this delegated role, which we believe is the best way to address governance challenges and make the most of investment opportunities.”
Towers Watson added that other clients it had signed up in the past six months had opted for a range of delegated investment services, from full fiduciary management service to running a portfolio of hedge funds and alternative beta assets.