Insurance broker Aon has taken on an additional £3.5bn in assets under management (AUM) with three new clients for its outsourced chief investment officer (OCIO) service in the UK.
This takes the AUM of the EMEA delegated consulting business to over £29bn, and globally to £144bn.
One of the new clients is a £1.25 billion pension scheme, which was investing across a range of asset classes and looking to simplify its investment strategy, and the second is a £1bn charitable foundation with a widely diversified asset pool.
The third client is Aon’s own Retirement Plan (ARP). The ARP is Aon’s £2.5bn legacy defined benefit scheme which has around 13,000 members.
The trustees of the plan decided to appoint an outsourced chief investment officer to free up trustee time for wider strategic decisions and projects.
William Parry, partner and head of delegated clients at Aon in the UK, said: “More and more pension schemes and asset owners are seeing OCIO services as the most efficient way to run the investment of their assets, allowing them a clear focus on strategy while retaining agility in the way the assets are invested.”
