Friday, 19 December 2014
Last updated 7 hours ago
Oct 8 2012 | 11:27am ET
The £1.5 billion Willis Pension Scheme is sticking with a familiar face to manage a new £100 million hedge fund portfolio.
The pension fund picked its investment consultant, Towers Watson, to handle what is in effect a huge fund of hedge funds mandate. Towers currently manages some US$7 billion in such mandates, Financial News reports.
"As a hedge fund investment business, we are not quite at the level of a BlackRock or a JPMorgan, but we are in a pretty good place," Chris Ford, who heads European investment consulting at Towers, told FN. "Nor are we at the US$500 million level, where a few funds of funds have been going out of business lately."
Towers' bid for Willis' business was no doubt helped by the price; according to Ford, Willis will pay significantly less than the average fees for funds of funds.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
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