Border to Coast Pensions Partnership has announced the appointment of four external managers for a global equity fund expected to reach over £4.5 billion when launched later this year.
The four managers are Harris Associates, Investec Asset Management, Lindsell Train and Loomis Sayles & Company. Border to Coast looked at proposals from over 90 asset managers, with support on the manager selection exercise by Mercer. The asset pool looked at value for money amongst other criteria and said that the fees agreed are expected to be materially lower than the aggregate fees its partner funds are currently paying.
Border to Coast chief executive, Rachel Elwell, commented: “We are delighted that we will be launching our externally managed global equity fund with such a strong line-up of investment managers. I am confident that with the combination of Harris Associates, Investec Asset Management, Lindsell Train and Loomis Sayles we can both deliver lower costs and build the long-term, risk-adjusted returns to meet our partner funds’ needs.”
Border to Coast is planning to launch investment grade credit and multi-asset credit funds over the next 12 months. It said that the requests for proposals for these mandates are expected to be issued over the course of the next quarter.