AUSTRALIA - The Commonwealth Group has appointed asset consultants Towers Perrin to provide a range of investment advisory services in relation to the group's investment product offerings.
Initially, Towers Perrin’s focus will be on assisting in the review of the Commonwealth Group’s range of Master Funds, totalling more than $10bn, and will include the provision of advice in relation to investment manager selection and portfolio construction.
A specialist investment advisory unit reporting to Nick Basile, head of Commonwealth Investment Management, was recently established and has been integral in the selection of an asset consultant.
Basile said: “This unit will oversee the ongoing work undertaken by Towers Perrin and will utilise the firm’s advice and services to ensure optimal outcomes are delivered for the group’s customers”.
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