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Pensions

Access to launch global equity fund

Access to launch global equity fund

Mona Dohle
Thursday 30th August 2018

Access, the £40bn Local Government Pension Pool has announced that its first pooled sub-fund, a £1.6bn global equity fund is due to be launched in October.

The fund, which will be managed by Access’ pool operator Link Fund Solutions, is aimed at offering Access’ 11 participating local authorities opportunities to invest in global equities.

By pooling its global equity investments, the pool aims to save between £1.5m and £1.9m in fund management costs per annum.

The pool has already merged its passive investments and is currently in the process of consolidating its listed equities portfolio, with further equity fund launches planned for the beginning of 2019.

Councillor Andrew Reid, chairman of the ACCESS Joint Committee comments on the launch: “This has been a significant first year with the appointment of the passive manager (savings of £5m per annum), the appointment of Link as the Operator and now the launch of the ACS and the first sub-fund.”

The Access Pool covers 11 LGPS administering authorities: Cambridgeshire County Council; East Sussex County Council; Essex County Council; Hampshire County Council; Hertfordshire County Council; Isle of Wight Council; Kent County Council; Norfolk County Council; Northamptonshire County Council; Suffolk County Council; and West Sussex County Council.

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