The Royal Borough of Kingston upon Thames’ Pension Fund has appointed an investment consultant via a framework agreement.
The local government pension scheme is around £430 million in size and has 11,000 members.
The framework agreement aims to deliver greater savings and efficiency in the public sector through shared services and joint procurement exercises, wherever possible.
It has appointed Aon Hewitt to provide investment consulting services. In the initial part of the contract, Aon Hewitt will be carrying out a review of the pension scheme’s investment strategy.
Jeremy Randall, head of finance, strategy and accounting at the Royal Borough of Kingston upon Thames Pension Fund, said: “The framework is offering local authorities both greater efficiency and the opportunity to maintain control of costs for their pension schemes.”
Emily McGuire, principal consultant and head of the public sector investment team at Aon Hewitt, added: “We have been growing our public sector [employer] client base over the last few years and are delighted that the Royal Borough of Kingston [upon Thames] has become the latest to appoint us.
“Our first task will be to help the panel to determine its long-term investment strategy and we look forward to playing a leading role in the fund’s future success.”
