LGPS Central, which manages the pooled assets of eight local authority pension funds, has appointed Longview Partners as the fourth manager in its Global Equity Active Multi Manager ACS Sub-fund.
Longview Partners is joined by the sub funds existing managers Harris, Schroders, and Union.
Launched in March 2019, the sub fund has commitments from six of £56bn LGPS Central’s partner funds, with approximately £3.5bn invested across the four managers.
The primary goal of the sub-fund is to outperform the FTSE All-World Index by 1.5% per annum (net of costs) over rolling five-year periods. Since its inception, the fund has delivered top quartile performance, according to LGPS Central.
Mark Davies, head of public markets at LGPS Central, said: “The balance between our preferred style biases in our global equities active multi-manager fund offers the advantage of diversifying investment styles. Adding Longview, a high conviction, quality focused manager with a long-term track record of delivering excess returns for LGPS members, will bring clear benefits.”
