The trustee of the GBP145m Midcounties Co-operative Pension Scheme has chosen Towers Watson to manage its investment portfolio on a fiduciary management basis, following a competitive tender.
Towers Watson’s delegated investment service provides an integrated approach to managing assets against liabilities for all sizes of pension funds in the context of a journey plan to full funding. The company is one of the world largest fiduciary managers and now has delegated responsibility for around USD60bn of assets worldwide.
Chris Ford (pictured), EMEA head of investment at Towers Watson, says: “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.”
The appointment follows nine other new client mandates which span the delegation spectrum from full fiduciary manager appointments to investing clients’ assets in a broad range of hedge funds and alternative betas on a fiduciary management basis. Won in the past six months, the new client portfolios range in size from tens of millions to multiple billions of dollars and total over USD6.5bn.