Merseyside Pension Fund has appointed Redington as a strategic investment advisor to help achieve its sustainability goals and to focus on risk management.
The £10bn fund is part of the Local Government Pension Scheme (LGPS) and has around 140,000 members. It has appointed Redington on a retained basis with an initial term of three years and intends to work with it on all areas of the fund’s investment strategy, with a particular emphasis on responsible investment.
Jill Davys, Redington’s head of LGPS, said: “It’s a pleasure to announce our newest client in the LGPS space, where we continue to witness increasing appetite for innovative solutions in investment strategy, risk management and sustainable investment.”
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Redington is an independent investment consultancy that works with a range of LGPS clients and manages more than £40bn of assets.
One of its first priorities while working with the fund will be to help deliver Merseyside’s Change Programme over the next 12-24 months. This encompasses the delivery of a net-zero action plan and wider responsible investment strategy; a full review of the fund’s equity, fixed-income and private markets portfolios; and a wider review of its risk management arrangements.
Peter Wallach, Merseyside Pension Fund’s director, said: “Merseyside Pension Fund is at a critical juncture in its journey – as well as looking to consolidate a strong funding position we are undertaking a detailed Change Programme, reviewing all areas of investment strategy inclusive of net zero.
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