On the go: The £13.6bn TPT Retirement Solutions, which has £11.3bn in defined benefit assets and £2.3bn in defined contribution assets, has made a circa £75mn impact investment through its DC master trust default fund.
The master trust made its impact investment through its DC default fund, which is advised by AllianceBernstein.
TPT said that its default investment strategy will increase its allocation to investments over the long term, with the aim of nurturing positive societal impacts and tackling global social and environmental problems, as defined by the UN Sustainable Development Goals.
The fund will increase its exposure to investments in areas including social housing, green infrastructure and renewable energy. It will add between 10 and 20 “investment components” over time to finance impact projects.
TPT director of defined contribution Philip Smith said: “This investment reflects our wider commitment to providing best-in-class, cost-efficient investments for pension members through our responsible investment framework.”
“It shows the ability of master trusts to offer greater diversification and better returns for our members. Not only will the allocation towards impact investment be beneficial to members, but it can also fund projects that impact communities and the environment.”
Elsewhere, the master trust’s latest annual report reveals that it has made several changes to its manager roster.
Foresight Group was appointed on May 28 2021 for its Foresight Energy Infrastructure fund, and Stonepeak Infrastructure Partners was hired on April 30 2021 for its Stonepeak Global Renewables fund.
Meanwhile, Kadensa Capital had its mandate terminated on April 1 2021, and Marathon Asset Management was dropped on April 30 2021.
This article originally appeared on MandateWire.com
