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Lambeth considers ETFs

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  • Lambeth considers ETFs

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.

If you have any comments you would like to add to this or any other story, contact Carolyn Bandel on +44 (0)20 7261 4622 or email carolyn.bandel@ipe.com

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