LGPS Central has announced the launch of its £1bn Global Sustainable Equities Active Fund with four local authority partners investing at launch.
Initial investors are the pension funds from Cheshire (£360m), Nottinghamshire (£320m), Worcestershire (£200m) and Shropshire (£120m).
“The Cheshire Pension Fund has had a long-standing commitment to invest in sustainable companies. This is because we believe forward-looking companies will play a major role in solving the world’s sustainability problems and, in doing so, generate strong financial returns for our members,” said Myles Hogg, chairman of the Cheshire Pension Fund Committee.
LGPS Central manages the pooled assets of eight Midlands-based local government pension funds and has combined assets of approximately £49bn.
It said the aim of the Global Sustainable Equities Active Fund was to “bring together a suitable mix of diverse managers to invest in only the most sustainable businesses”.
There will be three themed sub-funds that will be managed by Mirova, Liontrust and Baillie Gifford respectively. The main fund will be benchmarked against the FTSE All World Index.
—————
FREE weekly newsletters
Subscribe to Room151 Newsletters
Room151 LinkedIn Community
Join here
Monthly Online Treasury Briefing
Sign up here with a .gov.uk email address
Room151 Webinars
Visit the Room151 channel
