Willis Pension Scheme chooses fund-of-funds' fiduciary manager

The £1.5 billion ($2.4 billion) Willis Pension Scheme, London, appointed Towers Watson as fiduciary manager for a hedge fund-of-funds portfolio initially estimated at £100 million, according to a news release from Towers Watson.

Funding information was not available by press time. Richard Bostock, pensions director at Willis, declined to comment, citing company policy.

Towers Watson has $56 billion in assets under advisement within its delegated investments services division, about $7 billion of which is invested in hedge funds.