LGPS Central Limited begins search for Global Active Emerging Market Bond Managers

LGPS Central Limited is delighted to announce we’re now looking for active, global, emerging market bond managers to manage our £900 million Global Active Emerging Market Bond 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 the JPMorgan EMBI Global Diversified Index GBP Hedged
  • Active management will be expected to achieve net performance of 100bps above the benchmark
  • The Fund will predominantly invest in Hard and Local Currency Government Bonds and Hard Currency Corporate Bonds, all issued by emerging market countries. It is expected that the Fund will have certain exposure limits, of which the main ones are listed below:
    1) At least 50% of the Fund should be invested in Hard Currency Sovereigns and quasi-Sovereigns
    2) Up to 30% of the Fund can be invested in Local Currency Sovereigns; and
    3) Up to 30% of the Fund can be invested in Hard Currency Corporate Bonds

Successful candidates will need to be able to demonstrate:

  • consistent, robust, repeatable, investment process
  • low cost, fully transparent, value for money
  • responsible investment as part of the investment process
  • an actively managed portfolio
  • full transparency (look through) with the ACS custodian

The tendering process is a three-stage process that will be fair, transparent and non-discriminatory. Initially, third parties are invited to tender through a SQ process using only the email address below. Successful applicants will then be invited to complete a RFP before a competitive dialogue during final interviews and selection.

The closing date for the SQ submissions will be 12 noon GMT, 23rd December 2019 after which applications will not be accepted. If you wish to apply, please register your interest to participate in the tender by sending an email to: globalembondfund@lgpscentral.co.uk.

Our Partner Funds

Cheshire Pension Fund
Nottingham County Council
Staffordshire Pension Fund
West Midlands Pension Fund
Derbyshire Pension Fund
Leicestershire County Council Pension Fund
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