Wessex Water Pension Scheme selects Russell as fiduciary manager
UK - The £400m (€500m) Wessex Water Pension Scheme has appointed Russell Investments to provide fiduciary management services.
The Wessex Water Pension Scheme has more than 3,000 members and a multi-asset investment strategy, for which Russell has taken responsibility this week.
Peter Costain, chair of the trustees of Wessex Water, said: "We have made this appointment to enhance the investment governance arrangements of the scheme, particularly around investment decision-making, which is important for the benefit of both the employer and our members."
He also cited Russell's range of investment disciplines, as well as its investment management and implementation expertise.
Heath Mottram, head of fiduciary management for Ireland and the UK at Russell, is to oversee the Wessex Water account.
US-based Russell has approximately $155bn (€123bn) in assets under management and works with more than 2,400 institutional clients globally.