LGPS Central Limited launches Global IG Corporate Bond Fund: Fidelity and Neuberger Berman selected

26 March 2020

LGPS Central Limited publishes on its website:

“LGPS Central Limited is delighted to announce the launch of its Global Investment Grade Corporate Bond Fund to meet its Partner Funds’ needs. The new Fund brings together £1.2bn of Partner Fund assets under management. Initial investors are: Derbyshire Pension Fund, Nottinghamshire Pension Fund, Staffordshire Pension Fund and Worcestershire Pension Fund.

Investment Director for Fixed Income and Deputy CIO, Gordon Ross, said: “We’re delighted that after months of hard work, our Global IG Corporate Bond Fund has now been launched. We believe this Fund will help ensure our Partner Funds’ investment objectives are met and allow for important portfolio diversification. It has been a real collaborative effort between LGPS Central Limited and our Partner Funds and I’d like to thank them for their efforts. The transition team has, in particular, worked together extremely effectively during this period of heightened market volatility. We’re really looking forward to working with both of the Fund’s selected Fund Managers.”

The two managers, selected from over 70 who expressed an initial interest in tendering for the mandate, are Fidelity International and Neuberger Berman (Europe) Limited. Each fund manager will receive half of the total mandate. The assets have now been successfully transitioned to the selected managers with the full support of BlackRock as transition manager.”

Continue reading by going to the source: Click Here