LifeSight, consultant Towers Watson’s multiemployer defined contribution occupational pension plan, hired Legal & General Investment Management to provide an investment platform and defined contribution strategies, said a spokesman for Towers Watson.
DC multiemployer plans are known as master trusts in the U.K. LGIM’s platform and strategies will be used to deliver investment options to participants.
The spokesman said LifeSight does not yet have any assets.
LifeSight wants to deliver good value investment options that deliver “superior risk-adjusted returns,” said Fiona Matthews, managing director of LifeSight, in a news release by LGIM. “To this end, we went through a robust selection process and are delighted to have appointed LGIM based on their ability to offer the right range of core investment funds for Towers Watson’s professional investment managers to combine into the overall investment portfolios for our clients. In addition, LGIM’s platform is an excellent fit with LifeSight’s bespoke administration and engagement tools.”
LGIM has £726 billion ($1.12 trillion) in assets under management and advice, and in notional derivative positions.
