Border to Coast looking for up to 2 managers for U.K. listed equity strategy
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Border to Coast Pensions Partnership, Leeds, England is searching for up to two managers to run part of its £1.5 billion ($2.1 billion) U.K. Listed Equity Alpha Fund.
The fund is currently split among three existing managers: Baillie Gifford, UBS Asset Management and Janus Henderson Investors. The expectation is that the management will be split among the three existing firms and one or two newly appointed managers once the process to select additional firms is complete, a spokesman for the pensions pool said.
The U.K. Listed Equity Alpha Fund was launched in December 2018 with £1 billion in assets. It seeks a long-term 2% annual return ahead of the FTSE All-Share index after manager fees are deducted. The fund also has a lower carbon footprint than its benchmark.
The Border to Coast Pensions Partnership has raised a further £2.7bn of commitments for its private market investment pool, as it continues provide new investment opportunities for its 11 Local Government Pension Scheme (LGPS) partners.