Published: July 26, 2024
We are pleased to announce the addition of Longview Partners as the fourth manager in our Global Equity Active Multi-Manager ACS Sub-fund. Launched in March 2019, the ACS sub-fund currently has commitments from six out of eight of our Partner Funds.
The recent procurement aimed to identify a manager with a fundamental investment approach, quality factor bias, and a strong track record. Longview joins existing managers Harris, Schroders, and Union, all recognised for their ability in their respective investment approaches and responsible investment integration. The sub-fund’s performance will continue to be benchmarked against the FTSE All-World Index (GBP).
The primary goal of the sub-fund is to outperform the FTSE All-World Index by 1.5% per annum (net of costs) over rolling five-year periods. Since inception, the fund has consistently delivered top quartile performance. With approximately £3.5 billion invested across the four managers, the Partner Funds, which are over 100% funded, have been adjusting their portfolios to derisk.
Mark Davies, Head of Public Markets at LGPS Central, highlighted the benefits of diversifying investment styles within the fund, stating, “The balance between our preferred style biases in our global equities active multi-manager fund offers the advantage of diversifying investment styles. Adding Longview, a high conviction, Quality focused manager with a long-term track record of delivering excess returns for LGPS members, will bring clear benefits. Improving on our already 1st Quartile track record -. The balanced approach we take enables the fund to achieve more consistent performance across different market cycles, offering our Partner Funds a more stable and potentially higher long-term return.”
A representative from Longview expressed their excitement about the partnership, emphasising their commitment to generating long-term alpha through a concentrated portfolio of high-quality global equities. Their strategy focuses on fundamentally strong companies, a margin of safety in investments, and a long-term ownership perspective to optimise returns and ensure consistent, objective investment decisions.
