Australian Capital Territory (ACT) Treasury has appointed Towers Watson for investment consulting advice on around $3.5 billion of assets.
The mandate requires Towers Watson to advise ACT Treasury on investment matters including strategic asset allocation and fund manager selection, Towers Watson said.
"We are delighted to have won this mandate and look forward to helping the ACT Treasury achieve its investment objectives," Towers Watson's investment business head Graeme Miller said.
Towers Watson would draw on its strong local team and global scale to provide Treasury with a significant competitive edge, he said.
"In the current environment we have been pursuing a strategy of growing our investment business in Australia at a steady and controlled pace, to ensure that we have the requisite resources to best serve the interests of our new and existing clients alike," Miller said.
"The addition of the ACT Treasury mandate is a high-quality new business win for us, which fits perfectly with this strategy."
In February, Towers Watson boosted its investment team by hiring two people.
Alex Misev and Vineta Salale joined the firm as an investment consultant and investment analyst, respectively.
