Wales pool launches fixed income funds

December, 2020 Print

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Wales Pension Partnership (WPP) has launched a series of fixed income funds, as the pool aims to provide its constituent schemes with improved diversification and cost efficiencies.

The five sub-funds will be focused on global credit, global government bonds, absolute return bonds, multi-asset credit and UK credit.

Aside from UK credit, four of the sub-funds will be managed by Russell Investments and utilise a range of generalist and specialist fixed income managers to deliver enhanced risk-adjusted returns.

The single-manager UK credit strategy will launch with £550 million, while the four sub-funds managed by Russell Investments range in size between £430 million and £780 million.

Link Fund Solutions, which was appointed by the WPP as its Financial Conduct Authority-authorised operator in 2018, is responsible for creating and operating the new fixed income platform structure.

Chair of the Joint Governance Committee, Councillor Glyn Caron, said that as investment markets continue to become more complex, the pool recognised that more sophisticated investment solutions were needed to meet the long-term objectives of its eight constituent authorities.

“Working with Russell Investments and Link Fund Solutions, we believe these funds will provide us with the ability to optimise our exposure to fixed income markets while delivering on our objectives to improve diversification and reduce our costs,” he said.

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