LGPS Central Limited Selects External Managers for Emerging Markets Fund

We are pleased to announce we have selected three external managers for our Emerging Markets Equity Active Multi-Manager Fund.

The Fund is expected to attract around £1.5bn of investment when it launches later this year.

The three managers selected are BMO Global Asset Management, UBS Asset Management Limited and Vontobel Asset Management, with each fund manager receiving a third of the total mandate.

72 fund managers from across the globe expressed an initial interest in tendering for the mandate.

Jason Fletcher, Chief Investment Officer at LGPS Central Limited, said: “We are very pleased to welcome BMO Global Asset Management, UBS Asset Management Limited and Vontobel Asset Management. We look forward to building a long-term working partnership with them all so that we can deliver our Partner Funds’ investment objectives effectively.”

LGPS Central Limited manages the pooled assets of nine Midlands-based local government pension schemes: Cheshire, Derbyshire, Leicestershire, Nottinghamshire, Shropshire, Staffordshire, Worcestershire, West Midlands Pension Fund and the West Midlands Integrated Transport Authority.

The nine funds have approximately £44bn of investment assets collectively.

Commenting on the mandate win, Paul Myles, Director, UK Institutional Business at BMO Global Asset Management, said: “I am delighted our Emerging Market specialist, LGM Investments, has been selected to manage part of LGPS Central Limited’s Emerging Market Equity allocation. We believe both our long-term investment philosophy and commitment to engagement with companies on Environmental, Social and Governance (ESG) issues align with the beliefs of LGPS Central Limited and are fundamental for investment risks to be rewarded.”

Sheridan Bowers, Head of UK & Ireland at Vontobel Asset Management, added: “LGPS Central Limited has identified our expertise within Emerging Market Equities and we are delighted to be working with their investment team and supporting their Member Funds for the long term.”

Rachel Perini, Executive Director, UK Institutional at UBS, commented: “We are delighted to be partnering with LGPS Central Limited as a manager in their Emerging Market Equity Fund. Our appointment is testament to our investment strength within our award-winning Emerging Market Equity franchise. This continues to reflect UBS’ strong commitment to the LGPS sector and we look forward to building a strong, collaborative partnership with LGPS Central Limited over the coming years.”

LGPS Central Limited has been founded with the aim of improving risk-adjusted returns after costs, to enable access to a wider range of asset classes for participating funds, to ensure good governance and to deliver cumulative cost savings of almost £250m over the first 15 years the Pool will be in operation.

LGPS Central Limited currently has over £14bn of assets under management and advice. It is one of eight LGPS asset pools in England and Wales.

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