Northern Powergrid Group of the Electricity Supply Pension Scheme, London, hired Aon Hewitt as investment consultant, according to a news release.
The pension fund has £1.3 billion ($2.2 billion) of assets. Northern Powergrid operates the electricity distribution networks that provide power to three areas in the north of England.
Aon Hewitt already provides administration and actuarial services to the pension fund.
“The Northern Powergrid scheme already worked with Aon Hewitt, so we were aware of the breadth of resource and capability Aon Hewitt can offer,” said Stephen Robson, group administrator and secretary of the Northern Powergrid Group, in the release. “However, when we reviewed our investment advice, the group trustees were also impressed by Aon Hewitt’s focus on understanding our issues and the firm’s capability to give clear, tailored advice of the kind which is essential to running the scheme.”
Spokesmen for the fund could not be reached for comment. The previous investment consultant could not be learned by press time.