Wales Pension Partnership Launches Fixed Income Platform
Posted on 11/02/2020
The Wales Pension Partnership (WPP) was established in 2017. The WPP is a collaboration of the eight LGPS funds (Constituent Authorities) covering the whole of Wales and is one of eight national Local Government Pension pools. WPP has launched a series of fixed income funds on its existing ACS platform to provide a choice of sub-funds to implement their fixed income investments based on their strategic asset allocations. All eight constituent authorities* will be investing in at least one of these sub funds.
The new pooled investments will be comprised of five sub-funds focused on global credit, global government bonds, absolute return bonds, multi-asset credit, and UK credit. Apart from UK credit, the other four sub-funds will be managed by Russell Investments and utilize a range of generalist and specialist fixed income managers to deliver enhanced risk-adjusted returns. The single-manager UK credit strategy will launch with £550 million while the four sub-funds managed by Russell Investments range in size between £430 million and £780 million.
The Wales Pension Partnership named Link Fund Solutions as its FCA authorized Operator in 2018, is responsible for creating and operating the new fixed income platform structure.
* List of Constituent Authorities
Cardiff & Vale of Glamorgan Pension Fund
Clwyd Pension Fund
Dyfed Pension Fund
Torfaen Pension Fund
Gwynedd Pension Fund
Powys Pension Fund
Rhondda Cynon Taf Pension Fund
City and County of Swansea Pension Fund