UK carmaker Jaguar, owned by India's Tata Motors, has handed the consultancy Towers Watson responsibility for managing investments at its £2bn pension fund, as these type of fiduciary contracts continue to catch on.

Towers will now take charge of a portion of Jaguar's pension fund, a role it already fills for the £1.7bn Land Rover Pension Scheme, which is sponsored by the same group. Tata Motors acquired the two carmakers, known together as Jaguar Land Rover, from Ford in 2008.