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Pensions

Border to Coast goes live with two pooled equity funds

Border to Coast goes live with two pooled equity funds

Mona Dohle
Friday 27th July 2018

Border to Coast, public sector pension pool for 12 local authorities, has launched its first pooled investment vehicles.

It has also appointed a new chief investment officer, whose name will be disclosed over the next few weeks.

The two new pooled funds are based on the transfer of £7bn of UK and overseas developed equities which were previously individually managed by Teesside, East Riding and South Yorkshire Pension Authorities.

Assets will now be managed through Border to Coast’s first two sub-funds, the Border to Coast UK Listed Equity Fund and Border to Coast Overseas Developed Fund.

Rachel Elwell, CEO at Border to Coast, said: “We are all delighted to have achieved this significant milestone, which is testament to the strong partnership that has been built between our partner funds, with the newly formed Border to Coast and with our advisers and service providers. It has very much been a team effort and we are looking forward to building on this in the future to achieve our aim of making a difference to long-term investment outcomes for our LGPS partners.”

The pool, which as of March 2017 covered £43bn in assets, is also planning to launch a UK equity fund and an emerging market equity fund in the fourth quarter of this year as well as a global equity fund early in 2019.

Other mandates will be handed to third party asset managers. Among others, Border to Coast is currently in the process of appointing three active UK equity managers.

Border to Coast currently has a team of more than 30 investment specialists.

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