mast image

Impact Investing

IPE special report May 2018

Sections

Cambridge Strategy to manage Berkshire pension overlay

Related images

  • Cambridge Strategy to manage Berkshire pension overlay

UK – The Royal Borough of Windsor and Maidenhead administering authority has appointed the Cambridge Strategy to manage the £1.5bn (€1.8bn) Royal County of Berkshire Pension Fund's currency overlay programme.

Derek Doupe, head of overlay solutions at Cambridge Strategy, said: "Over the past decade, the non-domestic exposure of many pension funds has expanded as these funds continue to broaden their investment horizons.

"Sensible as this may be for diversification purposes, it also has incrementally increased the currency risks involved."

London-based Cambridge Strategy offers currency overlay, active currency alpha and emerging market macro and equity programmes.

In February, Berkshire appointed 15 asset managers to a new equity framework, five more than initially envisaged.

The growth equity framework, first tendered over last summer, aimed to appoint a number of managers the local authority fund could select to oversee a segregated or pooled investment of up to £70m.

Nick Greenwood, pension fund manager at Berkshire's administering authority, said that no immediate allocation to any of the managers was on the horizon, but noted that it would allow the fund to replace any existing manager if needed.

Have your say

You must sign in to make a comment

IPE QUEST

Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2435

    Asset class: CLOs.
    Asset region: Global.
    Size: USD 50m.
    Closing date: 2018-05-22.

  • QN-2436

    Asset class: Real Estate - Core Open-ended Real Estate Equity Fund (non-listed).
    Asset region: Asia Pacific.
    Size: Approx. CHF 70-100m per investment.
    Closing date: 2018-05-25.

  • QN-2438

    Asset class: High Yield Bonds.
    Asset region: US.
    Size: USD 300 million.
    Closing date: 2018-05-25.

Begin Your Search Here