LGPS Central has launched an active, multi-manager emerging markets equity fund.
The fund, which went live at the end of last week, is managed by BMO Global Asset Management, UBS Asset Management and Vontobel Asset Management - fund managers who will each receive a third of the total mandate.
LGPS Central manager of managers investment director Colin Pratt said: "We're thrilled that our emerging markets fund is now up and running. A lot of hard work has gone into making sure this fund will serve the needs of our partner funds, and we truly believe it will meet their long-term objectives."
LGPS Central is one of eight Local Government Pension Scheme asset pools in England and Wales and currently has around £20bn of assets under management and advice.
It manages the pooled assets of nine Midlands-based local authority funds: Cheshire, Derbyshire, Leicestershire, Nottinghamshire, Shropshire, Staffordshire, Worcestershire, West Midlands Pension Fund and the West Midlands Integrated Transport Authority.
LGPS Central was founded with the aim of improving risk-adjusted returns after costs, to enable access to a wider range of asset classes for participating funds, to ensure good governance and to deliver cumulative cost savings of almost £250m over the first 15 years the pool will be in operation.
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