On the go: The Access Pool, which handles assets for 11 Local Government Pension Scheme funds with around £46bn in assets under management, has launched seven new sub-funds worth £5.5bn.
The funds were launched by Link Fund Solutions, which actively manages £20.4bn of the pool’s £31bn pooled investments through its Authorised Contractual Scheme. The remaining £10.7bn is pooled in passive funds with UBS.
In line with its 2020-21 business plan — which set out launch plans for four global equity sub-funds, one UK equity sub-fund, and three fixed income sub-funds — the pension pool has now launched seven funds.
The pool chose incumbent managers Baillie Gifford and Schroder Investment Management for the management of three funds. Baillie Gifford will manage the LF Access Global Alpha Equity Fund and Sterling Aggregate Bond Fund, while Schorders will run the Global Active Value Fund.
One Global Equity Fund is run by Capital Group, with another managed by Mondrian Investment Partners. The UK Equity Fund is run by Majedie Investments, and finally, the Global Managed Volatility Equity Fund is managed by Acadian Asset Management, MandateWire reported.
“The Access joint committee has worked closely with LFS to select these fund managers so they can deliver the cost savings and investment performance required,” said councillor Mark Kemp-Gee, chair of the joint committee.
The pool’s next tranche, which is “likely to include global equity, fixed interest and emerging market equity sub-funds”, is up for approval in the business plan.
This article originally appeared on mandatewire.com
