UK - Just two months after breaking the £1bn barrier, as first revealed in Global Pensions, Investment Gateway, Watson Wyatt's strategy for defined contribution pension schemes has seen 20 plans, including the firm's own, committing over £2bn to the product.
In September the strategy broke the £1bn barrier and Watson Wyatt had claimed to have around 15 clients committed to Investment Gateway.
Now, two months down the line, the firm has seen at least 20 pension plans commit over £2bn.
Reuters and Rentokil are two of the schemes that have adopted the strategy, which offers greater diversity of investments including alternatives.
Watson Wyatt’s own pension scheme has taken the Investment Gateway approach which could be seen as testimony to the firm’s faith in the product.
Paul Trickett, European head of investment consulting at Watson Wyatt, said: “Historically, the investment options available to trustees of occupational DC pension funds were both inadequate and inefficient, resulting in severe constraints when setting investment strategy.
“However, the Investment Gateway changes this by making available to DC plans, sophisticated and versatile investment solutions previously reserved for defined benefit plans.”
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