The Wales Pension Partnership (WPP) has launched a sustainable global active equity sub-fund on its existing authorised contractual scheme (ACS) platform.
The launch enhances the choice available to the WPP’s constituent authorities and aligns with their evolving sustainability objectives.
The new sub-fund has launched with £1.2bn, with all eight Welsh funds participating, and will be managed by Russell Investments.
The manager had last year also been selected to establish a private credit investment programme.
The sustainable active equity solution includes five highly rated specialists – Sparinvest, Mirova, Neuberger Berman, Wellington and Artemis – identified and assessed by Russell Investments’ proprietary research framework to “ensure suitability and inclusion of sustainable offerings”, WPP announced.
The solution also offers the flexibility to evolve as the WPP’s requirements change, or as the sustainable landscape continues to develop, utilising Russell Investments’ Enhanced Portfolio Implementation capabilities – an infrastructure enabling customised and efficient changes to the sub-fund with a centralised portfolio management process.
Link Fund Solutions, which was appointed by the WPP as its operator in 2018, is responsible for the creation and operation of the new sub-fund.
Chris Weaver, chair of the joint governance committee of the WPP, said: “WPP’s long-term ambition is to demonstrate leadership on sustainability and responsible investing practices for and on behalf of the constituent authorities.
“This new sub-fund supports these ambitions in delivering both financial and broader sustainability benefits to the authorities, and their underlying members.”
Jim Leggate, head of EMEA sales and clients at Russell Investments, added: “Our bespoke solution gives exposure to a diversified set of best-in-class strategies that simultaneously stand to gain from and contribute to the transition to a more sustainable world. The appointment builds on Russell Investments’ extensive experience in designing and managing sustainable solutions for our clients.”