FED: Watson Wyatt appointed by Future Fund board

CANBERRA, Nov 24 AAP - Global investment consultant Watson Wyatt has been appointed by the Future Fund board to provide advice on a range of issues in the development of the Fund.

CANBERRA, Nov 24 AAP - Global investment consultant Watson Wyatt has been appointed by the Future Fund board to provide advice on a range of issues in the development of the Fund.

These include the establishment of an investment mission and philosophy, the development of the strategic asset allocation for the Fund, and setting up the transition strategy for entry into financial markets.

“We are delighted to have won this mandate and look forward to assisting the Board and the Management Agency with the establishment and ongoing management of this important initiative,” said David Neal, the head of investment consulting at Watson Wyatt in Australia.

The Future Fund has been set up by the Australian government to finance the unfunded pension liability of the Commonwealth public service.

The fund is expected to be well in excess of $100 billion, making it the largest institutional investor in Australia and one of the largest in the world.