UK - Northern Trust Global Investments is to select and monitor asset managers for Jardine Lloyd Thompson's UK pension fund clients under a partnership deal announced today.

The agreement will see NTGI deliver 'active investment management' on a manager-of-managers basis to JLT's Benefit Solutions arm. Financial terms were not disclosed.

"This partnership will see NTGI take on responsibility for the selection and monitoring of managers globally for some of JLT's pension fund clients," the two companies said in a joint statement.

"JLT will continue to manage the strategic asset allocation, the asset class and benchmarking, and the style and structure of the management, reviewing investment strategy, monitoring and reporting on NTGI's performance and rebalancing funds," said JLT regional managing director Paul Clark.

"Our relationship with JLT highlights our continued success in managing UK pension fund assets on a manager of managers basis," added Tony Earnshaw, MD of NTGI's international manager of managers business.

"This relationship is also in line with our strategy of partnering with complementary, high quality organisations to support our continued business development initiatives in the UK institutional pension fund market."

JLT's Employee Benefit Group in the UK employs over 900 professional staff in over 10 offices and has revenues of some £80m.