News in brief – 8 February

Nest has invited tenders for an actively managed global investment grade corporate bond fund.

It is looking to diversify its portfolio through the mandate, which will be added to its existing range of ‘building blocks’ funds that make up the schemes Nest Retirement Date Funds, as well as some alternative fund choices. It said it is looking for a fund manager that has “a high quality repeatable investment process, a robust risk management framework and who considers environmental, social and governance factors”.

LGPS Central Limited has announced it concluded the final closing of its first private equity fund on 31 January 2019.

The LGPS Central Limited 2018/19 Vintage Private Equity Fund has been in the pipeline for six months and it tailored to align with that of LGPS Central Limited’s Partner Funds. The investors in the fund are: Cheshire Pension Fund, Leicestershire County Council Pension Fund, Nottinghamshire County Council, Staffordshire Pension Fund and West Midlands Pension Fund.

PIMFA has launched its Wealth of Diversity Conference to help address the “diversity and inclusion gap in financial services”.

The conference, opened by the Economic Secretary to the Treasury and City Minister John Glen, was held on Tuesday 5 February and welcomed delegates from across the industry. It addressed key initiatives to promote diversity and inclusion, and gave insights into best practice for promoting culture and diversity in the workplace.

The number of people using TPT Retirement Solutions’ online DB platform has increased fivefold, from 4,500 to 27,000 in 2018.

A significant increase in usage of TPT’s online DB platform is an indicator of a “quiet” tech revolution in the sector, according to Heather Quelch, the organisation’s head of administration. TPT claim that the increased engagement is down to recent enhancements it has made to the service.

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