LGPS Central Limited begins search for Targeted Return managers

LGPS Central Limited is delighted to announce we are now looking for fund managers to run our upcoming c.£700m Targeted Return Fund.

Although subject to slight variations as the process progresses, as a general guideline, the Fund’s mandate is expected to include that the Fund will:

  • be benchmarked against 3-month GBP SONIA (or equivalent)
  • be expected to return a provisional active net performance of 3-4% p.a. above benchmark
  • consist of between 6 and 12 different investment strategies which, in combination, will have a correlation of below 0.5 to global equity markets
  • provide sources of return which are not entirely reliant on the market direction of mainstream asset classes such as equities and bonds, with an additional element of manager alpha
  • be invested in underlying assets that have a high degree of liquidity
  • provide a pattern of returns which is genuinely diversified from most other assets held within the Pension Funds of the potential investors
  • be unconstrained geographically.

Successful candidates will need to be able to demonstrate:

  • a consistent, robust, repeatable, investment process
  • low cost, fully transparent, value for money
  • responsible investment integration as part of the investment process
  • an actively managed portfolio

How to apply

The tendering process is a three-stage process that will be fair, transparent and non-discriminatory. The procurement will be managed electronically by LGPS Central Limited’s Targeted Return Team via its e-procurement platform system, ‘In-tend’.

To participate in the procurement, candidates must first be registered as a supplier in the In-tend system at:

https://in-tendhost.co.uk/lgpscentral

Once registered, candidates will be able to see the project under the ‘tenders’ section and ‘express an interest’ to view the documentation. 

Successful applicants will then be invited to complete an RFP before a competitive dialogue and due diligence during final interviews and selection.

The closing date for the SQ submissions will be 12 noon BST, 29 March 2021 after which applications will not be accepted.  If you wish to apply, please register your interest to participate in the tender by completing the necessary online form.

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