Merseyside pension fund appoints Redington as strategic investment advisor

17 January 2023

Redington, the leading independent investment consultant, has today announced its appointment as strategic investment adviser to the Merseyside Pension Fund.

The £10 billion fund is part of the Local Government Pension Scheme (LGPS) and is a provider to around 140,000 members, mostly located in the Greater Merseyside area.

Redington has been appointed on a retained basis with an initial term of three years and will partner with the Fund’s investment team to support on all areas of investment strategy, with a particular emphasis on responsible investment (RI).

To this end, one of Redington’s first priorities will be to help deliver an ambitious Change Programme over the next 12-24 months. This encompasses delivery of a net-zero action plan and wider RI strategy; a full review of the Fund’s equity, fixed income and private markets portfolios; and a wider review of its risk management arrangements. Another key objective is to consolidate the Fund’s strong funding position whilst continuing to meet its wider strategic objectives.

The procurement was formally completed in October 2022 and reflects Redington’s expanding presence in the LGPS market, where it has also been appointed to the National LGPS Framework for Investment Management Consultancy Services, which launched in November.

Commenting on the Merseyside appointment, Redington’s Head of LGPS, Jill Davys, said: “It’s a pleasure to announce our newest client in the LGPS space, where we continue to witness increasing appetite for innovative solutions in investment strategy, risk management and sustainable investment.

“Merseyside is a highly dedicated scheme with a strong track record of delivering for members, and we welcome its commitment to responsible investment and to channelling its influence for greater good. The team and I look forward to supporting them on that long-term journey while helping to navigate current conditions in an increasingly complex investment landscape.”

Peter Wallach, Director of Pensions for Merseyside Pension Fund, commented: “Merseyside Pension Fund is at a critical juncture in its journey – as well as looking to consolidate a strong funding position, we are undertaking a detailed Change Programme, reviewing all areas of investment strategy inclusive of Net Zero. Redington brings a fresh, innovative perspective and a straightforward approach to solving problems. We are excited about working in partnership with the Redington team as we strive to produce the best solutions and outcomes for our scheme employers, scheme members and stakeholders in general.”

Overall, Redington works with a range of LGPS clients representing more than £40bn of assets under management.

Source: Redington