LGPS assets reach £212 billion

April, 2014 Print

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According to figures compiled by The Pension Funds Performance Guide, the publishers of LAPF Investments, the total assets under management (AUM) for the local government pension scheme (LGPS) reached £212.9 billion in 2013, up 13.7% on the figure for 2012.

The figures show equities are the largest component of the total AUM at £112.8 billion. Looking back over 10 years of data, the figures show that LGPS assets have more than doubled from £99.7 billion in 2004. Assets rose steadily to £151.4 billion in 2008, before the impact of the global financial crisis led to a fall of almost 20% in AUM to £122.4 billion in 2009. Hover 2010 saw a strong rebound of 36.7% to £167.3 billion, with further smaller increases in 2011 and 2012.

In terms of asset class performance, the figures show that equity performance has been highly volatile, with large increases in 2010 (44.5%) and 2006 (26.6%) but a 25% fall in 2009. Apart from a 13.1% fall in 2009, fixed income performance has been reliable, between 9.1% in 2007 and 19.2% in 2011. Property saw two down years in 2008 and 2009, but otherwise performed well, while fixed income performance was also generally good apart from a 14.6% fall in 2009.

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