On the go: The circa £24.7bn Border to Coast Pensions Partnership, which handles the assets of 11 Local Government Pension Scheme funds worth a collective £55bn, has finalised the transformation of its Emerging Markets Equity Fund.
Border to Coast restructured its Emerging Markets Equity Fund to reflect the increasing importance of China within emerging markets.
The fund has been split into two sleeves. One sleeve focuses on the Chinese market and is managed by UBS Asset Management and FountainCap Research and Investment, as previously reported by Pensions Expert’s sister title MandateWire. The other sleeve targets non-Chinese emerging markets and is managed in-house.
Following the restructure, which gives the pool partner funds access to local Chinese specialist managers, additional subscriptions and investment growth resulted in a total value of more than £1bn.
Daniel Booth, chief investment officer at Border to Coast, said: “The increasing weight of China in market indices means our clients are better served by larger, locally based teams covering this large, broad and important market.
“We see China as a key hub for innovation and growth and believe that our approach will maximise our investors’ risk-adjusted returns.”
BlackRock provided transition management services, having been awarded a one-year contract earlier this year.
This article originally appeared on MandateWire.com
