LGPS Central Ltd is pleased to announce that five leading asset managers will be appointed via a West Midlands Pension Fund (WMPF) framework agreement to manage Global Sustainable Equities mandates on behalf of partner funds within the LGPS Central pool.
LGPS Central Ltd advised on the fund manager selection and is expected to oversee a mandate of around £1bn for partner funds. WMPF, a partner fund within the LGPS Central pool and recognised as a leading asset owner in responsible investment, launched an invitation to tender in October 2018 through the Wolverhampton City Council procurement portal, seeking long-only equity strategies where sustainability is a core part of the alpha-generation process. This builds on a shared investment belief that responsible investment is supportive of risk adjusted returns over the long term.
The five managers appointed are AGF Management Ltd, Baillie Gifford & Co, Impax Asset Management, RBC Global Asset Management, and WHEB Asset Management.
Michael Marshall, Director of Responsible Investment & Engagement at LGPS Central, said: “This is the largest allocation to actively managed sustainable equities ever made in the UK. This shows tremendous leadership by our partner funds, who continue to demonstrate that responsible investment is truly integrated into their investment strategies. We look forward to working with the outstanding investment managers who have been selected for the mandate.”
Councillor Ian Brookfield, Chair of WMPF commented “We have a long history of engaging companies to protect and enhance fund assets; now we will actively target those who are alert to the changes on the horizon and align with our requirement for long term sustainable returns. It’s great that we’ve been able to share this development across our investment pool, capturing the benefits more widely.”