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Press Release

Pension scheme demand for secure income helps Willis Towers Watson’s Secure Income Fund reach £1bn; prompts launch of new fund targeting Europe

Investments
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February 26, 2019

Willis Towers Watson today announces that the Towers Watson Secure Income Fund (SIF) has reached £1 billion of commitments.
  • Secure Income Fund reaches £1 billion of commitments in the UK in under two years
  • Success has led to launch of new fund in 2019 to broader European market
  • ESG is a key element to the strategy and its recent success

LONDON, 26 February 2019 – Willis Towers Watson today announces that the Towers Watson Secure Income Fund (SIF) has reached £1 billion of commitments.

The fund, available to Defined Benefit (DB) pension schemes in the UK, was launched in March 2017 to meet institutional demand for a product offering long-term sustainable income and which could help alleviate liability mismatch.

As a result, Willis Towers Watson has launched the Towers Watson Euro Secure Income Fund (ESIF). The fund is designed to help Euro-denominated pension funds access secure income assets and is available to investors in Europe and elsewhere. It will allocate its investments across Europe, principally focusing on the Netherlands, Germany, Ireland, France and Spain.

The ESIF marks a continuation of Willis Towers Watson’s commitment to developing strategies designed to provide stable returns during periods of higher volatility. Like the SIF, it will invest across low risk, cash generative strategies in infrastructure, real estate and real asset debt through funds, joint ventures, co-investments, secondary deals and more.

A critical element of the SIF’s success has come through sustainable investing, a commitment to which the ESIF will retain. The investment team identifies opportunities which will make a demonstrable positive societal and environmental impact alongside strong financial returns, such as social housing, renewable energy and sustainable agriculture, which all feature in the fund.

Among the SIF’s real estate investments, for example, are properties specifically designed for people with physical or mental disabilities, as well as emergency accommodation, which was added to the fund in Q3 of 2018.

Duncan Hale, Portfolio Manager at Willis Towers Watson for the SIF and ESIF, said: “We launched our Secure Income Fund to give pension schemes access to a strategy that was cash-flow generative, allowing them to more effectively match their liabilities, but that also had sustainable investment at its core. 

After two years, we’re delighted by the interest that the Fund has generated and we’re looking forward to broadening access to this approach through the launch of the Euro Secure Income Fund”.

Notes to editors

The Towers Watson Secure Income Fund (SIF) is a sub-fund of the Towers Watson Qualifying Investor Common Contractual Fund, an umbrella Common Contractual Fund with segregated liability between its sub-funds, authorised by the Central Bank of Ireland pursuant to the Investment Funds, Companies and Miscellaneous Provisions Act 2005. The Towers Watson Euro Secure Income Fund (ESIF) is a sub-fund of Towers Watson Investment Management Ireland 1 plc, an investment company with variable capital authorised by the Central Bank of Ireland as an umbrella fund with segregated liability between its sub-funds. The authorised Alternative Investment Fund Manager of both funds is Towers Watson Investment Management (Ireland) Limited, of Willis Towers Watson House, Elm Park Business Campus, Merrion Road, Dublin 4, Ireland, which is authorised and regulated by the Central Bank of Ireland.

This press release has been issued by Towers Watson Investment Management Limited (“TWIM”), the investment manager of SIF and ESIF. TWIM is authorised and regulated in the United Kingdom by the Financial Conduct Authority.

TWIM has prepared this document for general information purposes only and it should not be considered a substitute for specific professional advice. It is not intended as an invitation to subscribe for units or shares in the SIF or ESIF and its contents should not be relied upon for investment or other financial decisions. The value of all investments and the income from them can go down as well as up.The services and products provided by Towers Watson Investment Management Limited are available only to investors who come within the category of the Professional Client as defined in the Financial Conduct Authority’s Handbook.

About Willis Towers Watson Investments

Willis Towers Watson’s Investments business is focused on creating financial value for institutional investors through its expertise in risk assessment, strategic asset allocation, fiduciary management and investment manager selection. It has over 900 colleagues worldwide, assets under advisory of over US$2.3 trillion and over US$87 billion of assets under management.

About Willis Towers Watson

Willis Towers Watson (NASDAQ: WLTW) is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. With roots dating to 1828, Willis Towers Watson has 45,000 employees serving more than 140 countries and markets. We design and deliver solutions that manage risk, optimize benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. Our unique perspective allows us to see the critical intersections between talent, assets and ideas – the dynamic formula that drives business performance. Together, we unlock potential.

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