Royal British Legion has recently appointed Hewitt Associates as its general consultant. Over the coming months, Hewitt Associates will carry out a review of Royal British Legion’s investment strategy, and fund manager monitoring and reporting procedures. Other services to be provided by Hewitt include investment training for investment staff at Royal British Legion and identification of appropriate investment opportunities for possible investment.
Royal British Legion is a UK charity which provides financial, social and emotional support to anyone who has served or is currently serving in the Armed Forces, along with their dependents. It is an active investor in hedge funds and is known to follow a diversified investment strategy for the asset class.
Hewitt Associates provides services including human resources outsourcing and consulting, and investment consulting. It advises clients on several key areas that include general investment consulting, alternative investment consulting, and pension-risk consulting. It has recently recommended several hedge fund strategies including fund of hedge funds, distressed, and multi strategy funds. Hewitt Associates recommends predominantly US-based hedge funds alongside some global multi-strategy vehicles.
In Q3 2010 it was announced that Hewitt Associates and the Aon Corporation agreed to merge, with Hewitt Associates merging with Aon’s subsidiary firm, Aon Consulting. The new entity will be called Aon Hewitt. Hewitt Associates also recently acquired Ennis Knupp and Associates. Both deals are expected to be finalized in Q4 2010.
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