UK - The £750m (€979m) London Borough of Lambeth pension fund is looking at the option of investing in so called exchange-traded funds (ETFs), IPE has learnt.

Harry Musisi, treasury manager with the local authority, told IPE the investments - a form of securities which track an index, a commodity or a basket of assets, but trade like a stock on a known exchange - are suitable investments to the fund because of their transparency.

"The idea of an ETF is easy to sell to trustees, as it is a simple and transparent," said Musisi.

Delegates at the World Cup of Investment Management conference in Paris yesterday heard about two different approaches to ETF investing.

Panellists of a roundtable discussion on ETFs clashed over the importance of performance versus transparency in their own offerings. (See earlier IPE story: Performance vs transparency in ETFs)

Though Musisi argued the preferable approach to providing ETFs is making the funds as simple and as transparent as possible.

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