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Alternative Market Briefing

LGPS Central launches global active EM bond fund

Thursday, January 07, 2021

Laxman Pai, Opalesque Asia:

The Local Government Pension Scheme (LGPS) Central, one of the UK's eight local authority pension asset pools, has launched its global active emerging market bond fund.

The fund has been launched with an initial investment of £630m ($858m) from four of the pool's eight partner pension funds: Cheshire Pension Fund, Leicestershire Pension Fund, Nottinghamshire Pension Fund, and West Midlands Pension Fund.

According to a press release from LGPS, which has £45bn in collective assets, the mandate is split in half between the two fund managers, who were selected from more than 70 who expressed an initial interest in tendering.

The assets have transitioned to the selected managers with the full support of BlackRock as transition manager. According to sources, the fund is to be managed by Amundi and M&G Investments; each will receive half of the total mandate

LGPS Central Limited CIO and Investment Director for Fixed Income, Gordon Ross, said: "We're extremely pleased that our Emerging Market Bond Fund has now launched as we continue to provide Partner Funds with the products they require to pay their scheme members and dependents for the long-term. I'd like to thank the fantastic collaborative effort that the Central team and our Partner Funds have made to launch this fund, as well as the invaluable support of our transition manager. We look forward to working with both our chosen fund managers to achieve a strong performance moving fo......................

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