UK - The £1bn Lincolnshire Pension Fund has invested £74m in Goodhart Partners' Target Return fund.
Jo Ray, pension and investment financial advisor for Lincolnshire, said Goodhart's investment‐driven approach fit well with the local authority's strategy.
"The multi‐manager structure of the fund makes it possible to access a number of higher-quality investment strategies, and the extra layer of daily governance increases the transparency and oversight of the pension fund's assets," she said.
The Target Return fund is a UCITS III absolute return bond fund with segregated accounts, and unlike many of its peers, it already boasts a three-and-a-half-year track record.
Vincent McEntegart, partner at Goodhart Partners, said Lincolnshire's decision was a "clear endorsement" of the company's focus on building investment funds using a multi‐manager structure.
He said Goodhart's unconstrained and absolute return strategies fit well within the investment structures that many pension funds currently employ.
"By combining niche managers, our funds draw upon undiscovered investment talent and return streams," he added.
"We have the expertise required to invest with very specialist managers."