LGPS Central Limited launches Global Active Emerging Market Bond Fund

LGPS Central Limited is delighted to announce the launch of its £630 million Global Active Emerging Market Bond Fund. 

Gordon Ross

Initial investors are: Cheshire Pension Fund, Leicestershire Pension Fund, Nottinghamshire Pension Fund and West Midlands Pension Fund.

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 forward.”

Tom Davies, Assistant Director – Investment Strategy at West Midlands Pension Fund, commented: “WMPF are delighted to invest in this fund at its launch. EMD plays an important role in fulfilling our long-term obligations and objectives and this launch represents continued development of our strategy for the asset class. We have been very pleased to work with LGPS Central Limited and other Partner Funds in the development and launch of the product.”

The two fund managers, selected from over 70 who expressed an initial interest in tendering for the mandate, are M&G Investments and Amundi. Each fund manager will receive half of the total mandate.

The assets have now been successfully transitioned to the selected managers with the full support of BlackRock as transition manager.

Commenting on the announcement, Grant Hadland, Head of UK Institutional Sales at M&G, said:“We are honoured to have been selected to manage this emerging market debt mandate on behalf of LGPS Central Limited and build upon our long experience of working with Local Government Pension Schemes. By bringing our credit research expertise and integrated ESG approach to this strategic partnership, we will help to meet the objectives of LGPS Central Limited’s underlying Partner Funds and scheme members.”

Ross Matsentides, Institutional Sales Manager at Amundi, added: “We are thrilled to have been selected as a manager for LGPS Central Limited’s Global Emerging Market Debt Fund. Amundi has long been committed to the LGPS sector and to emerging markets where we have invested continually to ensure our investment capabilities stay ahead of the curve. We look forward to a long and successful partnership with LGPS Central Limited and its Partner Funds.”

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