Nikesh Patel – Pensions are not a sovereign wealth fund

The money is there, the right UK projects are there – but fiduciary duty must win the day

clock • 4 min read
Nikesh Patel: The framing of this superfund as a ‘sovereign wealth fund’ should raise the heckles of all pension professionals
Image:

Nikesh Patel: The framing of this superfund as a ‘sovereign wealth fund’ should raise the heckles of all pension professionals

Last week, Reform UK deputy leader Richard Tice announced that, if elected, his party would consolidate all Local Government Pension Scheme (LGPS) funds into one massive pot with “a strategic British growth mandate”, unlocking billions of pension capital to drive the economic growth we are so desperate for.

See: Reform UK plans £500bn sovereign wealth fund for LGPS and switch to DC Pension consolidation is nothing new. Successive governments have explored the idea, and LGPS consolidation is already...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Investment

Partner Insight: The role of asset-backed securities in pension scheme LDI portfolios
Investment

Partner Insight: The role of asset-backed securities in pension scheme LDI portfolios

Historically, the US securitised credit market has demonstrated strong risk-adjusted return outcomes, often decorrelated to traditional fixed income assets. When blended into LDI portfolios there is the opportunity to enhance collateral waterfall liquidity...

Luke Copley, Client Portfolio Manager, Fixed Income at Columbia Threadneedle Investments
clock 29 April 2026 • 5 min read
Public says LGPS should prioritise saver returns over UK investments
Investment

Public says LGPS should prioritise saver returns over UK investments

UKSIF poll finds under a quarter think LGPS funds should prioritise investment in the UK

Holly Roach
Holly Roach
clock 21 April 2026 • 1 min read
Partner Insight: A year in ABS investing: growth, resilience and the road ahead
Investment

Partner Insight: A year in ABS investing: growth, resilience and the road ahead

Seema Sopal, ABS Fund Manager, discusses how the team look to deliver resilient returns and uncover global opportunities, and how the market may develop for investors in the year ahead.

Royal London Asset Management
clock 21 April 2026 • 1 min read
Trustpilot