Local Pensions Partnership launches £5bn global equity fund; £3bn of mandates awarded to three external managers
The Local Pensions Partnership (LPP) has launched a £5bn global equity fund made up of the pooled holdings of its existing main clients, the Lancashire County Pension Fund (LCPF) and the London Pensions Fund Authority (LPFA).
The fund comprises approximately 40% internally managed equities with 60% managed by MFS Investment Management, Robeco and Magellan. The LPP said the new portfolio provides a "significant reduction"...
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