Home > Alerts > United Kingdom > LGPS Central Selects two External Managers for Global IG Corporate Bond Fund
6 March 2019
“We’re delighted to announce we have selected two external managers for our Global Investment Grade Corporate Bond Fund. The two managers selected are Fidelity and Neuberger Berman (Europe) Limited, with each fund manager receiving half of the total mandate. Over 70 fund managers from across the globe expressed an initial interest in tendering for the mandate.
Gordon Ross, Investment Director for Fixed Income at LGPS Central Limited, said: “We’re really looking forward to working with both Fidelity and Neuberger Berman. We chose these firms because of their global reach as well as their strong presence in the UK. It’s clear they follow robust processes that are repeatable across all credit markets. We’re certain they will help us to ensure our Partner Funds investment objectives are met.”
Commenting on the announcement, Peter Hunt, Head of UK Institutional Business Development at Fidelity International, said: “We are delighted to be partnering with LGPS Central Limited in the management of this prestigious Global Credit Mandate. Our appointment is testament to the strength of our credit research and innovative approach to portfolio construction. This continues to reflect Fidelity’s strong commitment to the LGPS sector and we look forward to building a strong, collaborative partnership with LGPS Central Limited and its member funds over the coming years.”
Ed Jones, Head of UK Institutional Client Business at Neuberger Berman, added: “We are very proud to have been selected as fund manager for LGPS Central Limited’s Global Investment Grade Corporate Bond Fund. Neuberger Berman and the LGPS have worked together in private markets for some years already, and we are delighted to broaden this to include investment grade credit, where we manage approximately £15bn in client assets globally. We look forward to a long and productive partnership with LGPS Central Limited.””
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