Brunel Pension Partnership (BPP) has appointed its first fund manager, handing a passive equity mandate to Legal & General Investment Management (LGIM). The mandate, according to an announcement from the Local Government Pension Scheme pool, is expected to be worth more than £4bn. Mark Mansley, chief investment officer at BPP, said: “LGIM’s approach to enhancing performance and their commitment to corporate governance and stewardship, along with their client-focused ethos, has contributed to making them our preferred choice.” Further decisions are still to be made regarding passive smart beta equities and passive gilt portfolios. Last week, BPP launched its first search for active managers for a UK equities mandate worth around £1.2bn and a low volatility fund worth around £600m.
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