LGPS Central unveils active EM bond fund

February, 2021 Print

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LGPS Central has announced the launch of its £630 million Global Active Emerging Market Bond Fund.

The pool, which has £45 billion in aggregate assets, said the fund had attracted four initial investors – Cheshire Pension Fund, Leicestershire Pension Fund, Nottinghamshire Pension Fund and West Midlands Pension Fund.

M&G Investments and Amundi will manage the fund and were selected from over 70 who expressed an initial interest in tendering for the mandate.

LGPS Central chief investment officer 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.”

Each fund manager will receive half of the total mandate. The assets have now been successfully transitioned to the selected managers, with the support of BlackRock as transition manager.

Tom Davies, assistant director – investment strategy at West Midlands Pension Fund, said: “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.”

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