The Wales Pension Partnership (WPP) Joint Governance Committee’s recently published agenda for its September 17, 2025 meeting, along with minutes from the July 16, 2025 meeting, disclose future investment intentions and recent manager appointments.
Real Estate Investment Program Launch Imminent
The WPP plans to launch its Real Estate Investment program in October/November 2025. This initiative is part of the ongoing investment program developments for the fiscal year 2025/26, as outlined in the Host Authority Update (page 18).
New Manager Appointments in Global Credit and Emerging Markets Equity
For the fiscal year 2025, the WPP completed two manager appointments in May 2025:
Global Credit Fund: Coolabah was appointed to the WS Wales PP Global Credit Fund (page 62).
Emerging Markets Equity Fund: Sands Capital was appointed to the WS Wales PP Emerging Markets Equity Fund (page 62).
Planned Manager Change for UK Opportunities Equity Fund
The WPP is in the process of changing the sub-manager for the WS Wales PP UK Opportunities Equity Fund. The proposal involves removing JO Hambro and replacing them with Jupiter Asset Management. Jupiter Asset Management’s UK Dynamic Strategy is intended to be added to the fund at a 22% strategic weight. The rationale for this change is Russell Investments’ high conviction in this strategy, led by Alex Savvides and his team, who transitioned from JO Hambro to Jupiter last year. An early August live date was being considered (page 62).
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