LGPS Central Limited begins search for Global Active Emerging Market Bond Managers

13 December 2019

Staples

LGPS Central publishes on its website:

“LGPS Central Limited is delighted to announce we’re now looking for active, global, emerging market bond managers to manage our £900 million Global Active Emerging Market Bond Fund.

Although subject to slight variations as the process progresses, as a general guideline the Fund’s mandate is expected to include that: The Fund will be benchmarked against the JPMorgan EMBI Global Diversified Index GBP Hedged. Active management will be expected to achieve net performance of 100bps above the benchmark. The Fund will predominantly invest in Hard and Local Currency Government Bonds and Hard Currency Corporate Bonds, all issued by emerging market countries. It is expected that the Fund will have certain exposure limits, of which the main ones are listed below: 1) At least 50% of the Fund should be invested in Hard Currency Sovereigns and quasi-Sovereigns. 2) Up to 30% of the Fund can be invested in Local Currency Sovereigns; and 3) Up to 30% of the Fund can be invested in Hard Currency Corporate Bonds. “

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