The trustees of the GBP1.5bn Willis Pension Scheme have chosen Towers Watson to manage a large portion of its hedge fund portfolio on a fiduciary basis, following a competitive tender.
The portfolio, which will have an initial value of around GBP100m, will be invested in a broad range of hedge fund strategies.
Chris Ford (pictured), EMEA head of investment at Towers Watson, says: “This is a significant development for our business and is part of a trend where more clients and prospects are choosing to delegate all or part of their investment decisions to Towers Watson. Our hedge fund capabilities have grown and changed significantly since we started researching hedge funds over a decade ago.”
Towers Watson has delegated responsibility for over USD56bn of assets worldwide, of which over USD7bn is invested in hedge funds.