LGPS Central has begun a search for managers to run its new Global Sustainable Equities Fund.
The fund will allocate around £1 billion to three investment strategies, banded as “broad”, “thematic” and “targeted”. Benchmark will be against the FTSE All World Index in sterling, or an equivalent.
Performance expectations are for 1.5% to 2.0% per annum above benchmark for the broad strategy, and 2.0% to 3.0% per annum for the thematic and targeted strategies, net of all fees.
Investments will be made in global equity or equity style instruments across markets and there will be no constraints on geography or industry.
A high conviction, actively managed portfolio will be balanced with a reasonable degree of diversification and there will be no leverage at the portfolio/fund level. The portfolio must be mostly liquid, though derivatives may be used for hedging and portfolio management purposes.
Those seeking to take on the mandate must demonstrate a consistent, robust, repeatable investment process and low cost, full transparency, value for money. Responsible investment integration is essential and sustainability must be included as part of the investment process.
LGPS Central is reviewing RFPs, having closed the first stage of the tendering process in June.
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Published: August 1, 2021
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