LGPS Central Limited begins search for Targeted Return managers

3 March 2021

LGPS Central Limited is delighted to announce we are now looking for fund managers to run our upcoming c.£700m Targeted Return 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 3-month GBP SONIA (or equivalent)
  • be expected to return a provisional active net performance of 3-4% p.a. above benchmark
  • consist of between 6 and 12 different investment strategies which, in combination, will have a correlation of below 0.5 to global equity markets
  • provide sources of return which are not entirely reliant on the market direction of mainstream asset classes such as equities and bonds, with an additional element of manager alpha
  • be invested in underlying assets that have a high degree of liquidity
  • provide a pattern of returns which is genuinely diversified from most other assets held within the Pension Funds of the potential investors
  • be unconstrained geographically.

Successful candidates will need to be able to demonstrate:

  • a consistent, robust, repeatable, investment process
  • low cost, fully transparent, value for money
  • responsible investment integration as part of the investment process
  • an actively managed portfolio
Source: LGPS Central Limited
Multiple reports with cicle diagram and text

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