LifeSight, WTW’s UK-defined contribution (DC) master trust, has hit the £20 billion mark for assets under management.
The milestone comes as the total number of pension scheme members covered by LifeSight surpassed 400,000, following the addition of several schemes.
LifeSight says its investment strategy prioritises long-term returns in line with its 2021 Net Zero pledge, with nearly £1 billion invested in a Climate Transition Index Fund.
Meanwhile, LifeSight said that it will use its scale to provide DC savers with access to a variety of illiquid asset types, including private equity, through its default funds.
LifeSight head of LifeSight UK Jelena Croad says: “The continued growth of LifeSight makes it one of the largest and most successful master trusts in the UK by asset size, as a consequence of our disciplined growth strategy since launching in 2015.
“The scale of LifeSight makes it viable to invest in new technologies, tools, and services that enhance members’ experience and understanding of their retirement savings. In addition, we have successfully been able to leverage our scale to ensure members continue to receive the best value from our high-quality investment options.
“The DC pensions industry is fast-moving and highly competitive and we intend to continue to evolve LifeSight and innovate the proposition to ensure our clients and their members receive the best that WTW has to offer. We have some very exciting developments in the pipeline.”