Border to Coast Pensions Partnership’s 11 partner funds have now pooled almost 80% (£47 billion) of their £60 billion of assets by the end of March 2022, according to its latest annual report.
Border to Coast manages £38.3 billion of the total pooled assets, an increase of £13.6 billion in the past year, and provides advice and support on a further £8.7 billion pooled by partner funds through passive index funds.
The last year has seen the launch of an innovative £3.5 billion Multi-Asset Credit Fund and a £1.4 billion Listed Alternatives Fund.
It has also expanded its private markets programme, receiving commitments of £4.1 billion from partner funds, taking the total assets to c.£10 billion. It has achieved a reduction in fees across the asset class of c.24% to date on behalf of partner funds.
Over the year, it achieved £14 million of savings and is on target to deliver £110 million of cumulative net savings within the first 10 years of pooling and £250 million in the first 15 years.
To support its ambition to achieve net zero carbon emissions by 2050 or sooner, it launched a £1.35 billion climate opportunities investment proposition in its private markets programme, that targets investment driving the global transition to low carbon economies.
Chris Hitchen, chair of Border to Coast, said: “We have come a long way in just four years and while the environment we will operate in will evolve, whether due to changing economic conditions, new government legislation, or implementation of sustainability goals, we will support our partner funds on the journey every step of the way.”
Rachel Elwell, Border to Coast’s CEO, said: “The collective scale achieved through pooling gives our partner funds an influential voice that has a real impact. Together, we have a stronger voice as a responsible investor and active steward of assets as well as within the investment industry itself.