mast image

Special Report

Impact investing

Sections

London Transport pension scheme commits to LGIM fund

Related images

  • London Transport pension scheme commits to LGIM fund

UK – The £6bn (€7bn) pension fund for London’s transport authority has committed to a new emerging market (EM) fund managed by Legal & General Investment Management (LGIM).

Announcing the launch of the LGIM Russell Developed Large Cap EM GeoExposure Index Fund, the manager said the Transport for London Pension Fund (TfLPF) had committed £150m and was its first investor.

LGIM said the fund would target companies deriving a “material proportion” of their revenue from EM countries, which it hoped would reduce volatility compared with traditional EM investment.

Simon Midgen, head of index funds strategy at LGIM, said: “This is the first fund we have developed that tracks a Russell index and expands our range of alternatively weighted index funds.

<

“We remain committed to developing funds and products to meet our clients’ needs and are pleased to have Transport for London’s Pension Fund as seed investors.”

According to the TfLPF’s most recent annual report, LGIM already managed more than half of its assets in liability matching and index-tracking strategies.

It did not disclose any specific EM mandates, instead investing in global equities through JO Hambro, IronBridge Capital Management and Taube Hodson Stonex.

It also had exposure to Pacific equities, managed by Nomura, as well as a North American equity mandate overseen by Burgundy Asset Management.

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-2548

    Asset class: Fixed Income, Emerging Market Debt Hard Currency (Active).
    Asset region: Emerging Markets.
    Size: CHF 300-400m.
    Closing date: 2019-07-30.

  • QN-2549

    Asset class: Fixed Income, Emerging Market Debt Hard Currency (Passive or Passive Enhanced).
    Asset region: Emerging Markets.
    Size: CHF 300-700m.
    Closing date: 2019-07-30.

  • QN-2550

    Asset class: Fixed Income, Emerging Market Debt Local Currency (Active).
    Asset region: Emerging Markets.
    Size: CHF 250-350m.
    Closing date: 2019-07-31.

  • QN-2551

    Asset class: Fixed Income, Emerging Market Debt Local Currency (Passive or Passive Enhanced).
    Asset region: Emerging Markets.
    Size: CHF 250-350m.
    Closing date: 2019-07-31.

  • QN-2552

    Asset class: Fixed Income, High Yield (Active).
    Asset region: High Yield (US).
    Size: CHF 500-600m.
    Closing date: 2019-07-29.

  • QN-2553

    Asset class: Fixed Income, High Yield (Passive or Passive Enhanced).
    Asset region: High Yield (US).
    Size: CHF 500-1'100m.
    Closing date: 2019-07-29.

  • QN-2554

    Asset class: Global Real Estate (Equity, unlisted Funds).
    Asset region: World (ex-Switzerland).
    Size: CHF 200 mn (potential for further growth).
    Closing date: 2019-08-07.

  • QN-2555

    Asset class: Real Estate.
    Asset region: European.
    Size: EUR 50 - 100 million.
    Closing date: 2019-07-22.

  • QN-2556

    Asset class: FX Hedging.
    Asset region: Global.
    Size: Mandate size of CHF 1.5 bn.
    Closing date: 2019-08-09.

  • QN-2557

    Asset class: All/large Cap Equities.
    Asset region: China A-shares.
    Size: Unit linked platform (0m USD in initial investment).
    Closing date: 2019-08-01.

Begin Your Search Here
<