Pension Funds Insider

Pension Funds Insider brings the latest pensions news and industry insights; from investment and governance updates to new mandate appointments and pensions regulatory information.

Wessex Water pension scheme hires fiduciary manager

11 July 2012

Image for Wessex Water pension scheme hires fiduciary manager

The £400m Wessex Water pension scheme has hired Russell Investments to provide fiduciary management services.

The firm will be responsible for looking after the scheme's multi-asset strategy, provide investment expertise and implement investment decisions in order to reach the scheme's objectives.

According to data held by Pension Funds Online, Russell Investments currently has about $155bn in assets under management, and $2.4tn in assets under advisement. The Wessex Water pension scheme has close to 3,000 members.

Chairman of the board of trustees, Peter Costain said in a statement that the scheme chose Russell in order to enhance the investment governance arrangements of the scheme, "particularly around investment decision-making, which is important for both the employer and our members."

Heath Mottram, Russell's head of fiduciary management in the UK said: "With trustees' time under increased pressure, there is a need to consider delegation. The pension scheme will benefit from the expertise of an extensive team of investment specialists."

 

First published 10.07.2012

azeevalkink@wilmington.co.uk