Jaguar hands Towers Watson broader role

Jaguar assembly plantThe pension scheme of UK car maker Jaguar has handed pension consultant Towers Watson a fiduciary management responsibility which includes investment manager selection and asset allocation. The ‘delegated relationship’ between the £2 billion (€2.3 billion) pension fund and the consultant comes three years after the two organisations started working together. Fiduciary management involves a range of investment services (including asset allocation, manager selection and investment operations) delegated to an investment services provider who is responsible for the day-to-day management of assets against the fund's strategic goals. This includes using the widest use of investment tools and solutions, such as liability-driven investment, buy-ins and other insurance solutions. Chris Ford, head of investment at Towers Watson in Europe, Middle East and Africa, said: "In the fast-growing fiduciary management and delegated consulting market, the combination of exceptional clarity of performance goals versus liabilities and a highly dynamic relationship is very appealing for many funds." Towers Watson has delegated responsibility for over $50 billion of assets worldwide. ©2012 funds europe

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