Hewitt to Provide Delegated Consulting Investment Services to the Getinge Group
Aug 26, 2010
LONDON, UK — The Getinge Group has appointed Hewitt to provide fully delegated investment consulting services to its three UK pension schemes. The Getinge Group has over 12,000 employees in 36 countries and is a leading global provider of products and systems that contribute to quality enhancement and cost efficiency in healthcare and life sciences. Hewitt will be working with the three pension schemes of Getinge's UK companies, Getinge UK, Huntleigh UK and Arjo. The three schemes, which are closed to new entrants, have over 1,500 lives and total assets of around £60m. The schemes have delegated all day to day investment decisions to Hewitt, who have discretionary powers to design and implement a risk management programme, to select the broad asset mix (within defined ranges), to adjust this asset mix using medium-term views and finally to select and appoint fund managers. Zuhair Mohammed, chief executive of delegated consulting services at Hewitt, said: "The first half of 2010 has seen increasing interest from pension schemes in delegating their investment decisions. With Getinge we have worked with the trustees of their three schemes to define their solvency related benchmark and we will now take on responsibility for their key investment decisions." Ian Jones, finance director of ArjoHuntleigh UK, said: "The Hewitt fiduciary model offered us efficient access to their latest strategic thinking and their best investment ideas. The Delegated Consulting proposition is compelling from a cost perspective and the risk-reward profile of our resulting portfolios, while it also brings market-leading expertise to where it counts most - and all from a top-tier provider we can trust." About Hewitt Risk Management Services Hewitt Risk Management Services Limited is the investment management subsidiary of Hewitt Associates Limited in the UK. Our Delegated Consulting Service, provided through Hewitt Risk Management Services Limited, offers a fully delegated investment strategy for pensions schemes. Within clearly defined parameters and with trustees maintaining overall control of the objectives and any investment restrictions, our Delegated Consulting Service provides a highly tailored solution for a plan, including risk management strategies, asset allocation decisions and selection and appointment of fund managers. Hewitt Risk Management Services Limited is authorised and regulated by the Financial Services Authority. For more information, please visit www.hewitt.com
Sarah Decottegnie, Capital MS&L, 020 7255 5197
Media Contacts:
Colin Mayes, Hewitt Associates, +44 (0) 1372 733 689
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