TPT Retirement Solutions has launched a global fixed income fund with £170m in assets as it continues to expand its fund range.
It follows the launch of a £720m investment grade bond fund earlier this month. Both funds are managed TPT Investment Management, the pension provider’s internal asset manager.
The Global Credit Opportunities Fund invests across public markets including sovereign, emerging market and high yield bonds.
It also aims to invest in markets that may not be as well-known as others, TPT said, giving managers “the chance to demonstrate their skill in accessing a diversified set of risk premia when compared to a more traditional asset allocation”.
Simon Moss, portfolio manager for the Global Credit Opportunities Fund, said the new launch “will increase our ability to offer a well-rounded investment strategy, with diversified risk premia, while maintaining scheme liquidity”.
“As with all of our funds, schemes [will] benefit from consolidation, responsible investment, and investment expertise that would not necessarily be available to smaller, stand-alone schemes.”
TPT said the fund has been seeded with capital from TPT’s DB master trust.
Meanwhile, the Investment Grade Bond Fund was also launched this month to provide TPT clients with exposure to high quality fixed income with a low risk of default.
The funds are the fifth and sixth in a range of seven planned launches to provide pension schemes with new strategies.
The previous funds include two alternatives funds launched in June with £800m in total assets, a £650m private credit fund opened in September and a liquid alternatives fund launched in October with £800m.
The funds are offered through TPT’s fiduciary management offering that it opened to other pension schemes in October last year.
