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Pensions

Border to Coast launches UK equity tender

Border to Coast launches UK equity tender

Mona Dohle
Tuesday 10th July 2018

Border to Coast, the £43bn public pension pool for LGPS assets has launched a tender for a £1bn-1.25bn UK equity mandate.

As part of the invitation to quote (ITQ), Border to Coast is looking to appoint three active UK equity manager offering distinctive investment styles, the overall portfolio has a target of 2% above the FTSE All Share Index, net of manager fees and expenses.

Asset managers are invitied to sumbmit their proposals until the 27th of July to Mercer, which acts as an adviser for the tender.

The Leeds-based Border to Coast pool is owned by twelve Local Government Pension Scheme authorities, including the Bedfordshire, Cumbria, Durham, East Riding, Lincolnshire, Northumberland, North Yorkshire, Surrey, South Yorkshire, Teesside, Tyne and Wear and Warwickshire LGPS pension schemes.

Assets are currently being transitioned to the pool, which plans to go live throughout the summer.

Border to Coast has also recently appointed Robeco to perform its voting and engagement services to ensure ESG compliance across its investments. As part of Robeco’s active ownership services, the Japanese-owned asset manager which specialises in ESG and SRI investment will vote and engage on behalf of the Pension Fund.

It is one of eight similar pools to be created to meet new LGPS regulations on the pooling of assets among 89 LGPS schemes across the country.

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