LGPS Central launches Global Active Emerging Market Bond Fund

Local Government Pension Scheme (LGPS) Central Limited has announced the launch of its £630m Global Active Emerging Market Bond Fund.

The initial investors in the fund are Cheshire Pension Fund, Leicestershire Pension Fund, Nottinghamshire Pension Fund and West Midlands Pension Fund (WMPF).

The two fund managers, selected from over 70 managers that expressed interest in tendering for the mandate, are M&G Investments and Amundi.

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

LGPS Central CIO and investment director for fixed income, Gordon Ross, said the firm was “extremely pleased” at the launch of the fund and thanked the “fantastic” collaborative effort that the LGPS Central team and its partner funds have made, alongside the “invaluable” support from BlackRock.

WMPF assistant director - investment strategy, Tom Davies, added: “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.

“We have been very pleased to work with LGPS Central Limited and other partner funds in the development and launch of the product.”

M&G Investments and Amundi said they were “honoured” and “thrilled” respectively to have been selected as managers of the fund, with both expressing their excitement at working with LGPS Central and its partner funds.

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