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NILGOSC Re-appoints Aon Hewitt

05 April 2016

NILGOSC, the administrator of the Local Government Pension Scheme (LGPS) for Northern Ireland, has re-appointed Aon Hewitt as its Investment Advisor for its £5.8bn fund.

NILGOSC invests globally in equities, fixed income, property, infrastructure, and private equity utilising ten fund managers. Aon Hewitt will advise on asset allocation and well as assist with the selection and monitoring of fund managers. In addition it will advise on the fund's AVC provision and other financial service providers.

The Northern Ireland Scheme is not affected by the 'Pooling' requirement as in England and Wales however it did collaborate with other LGPS funds as part of the procurement exercise. As David Murphy, Chief Executive of NILGOSC explained "we were able to save time and resources in running our procurement exercise because we were able to make use of the National LGPS Framework for Investment Consultancy. As a public body it is vital we obtain value-for-money so it is important that we periodically re-tender for our service providers and test the market. But we also want this market-testing in itself to be cost effective and the use of the National Framework ensured that that was the case."

Commenting on their re-appointment, Emily McGuire of Aon Hewitt said that "we already have a good relationship with NILGOSC having provided successful advice for many years, therefore we are very happy that we can continue in that role during what will be a challenging time for LGPS investment".