Brunel planning £1.3bn EM fund

22 Nov 2018

A group of local government pension schemes is preparing to launch an emerging markets equity fund.

Brunel Pension Partnership is looking for a firm to manage the £1.3bn mandate in what will be the pool’s third sub-fund.

In May, it handed a £4bn passive equity mandate to Legal & General Investment Management and subsequently lunched a search for a firm to manage a £1.8bn active equity fund.

Brunel will be inviting firms to pitch for the emerging markets mandate from January with the fund scheduled for launch between July and October 2019.

Mark Mansley, Brunel’s chief investment officer, said that for long-term investors emerging markets hold great potential, pointing to forecasts that it will be the source of more than half of the world’s economic growth in the next 10 years.

Brunel manages almost £30bn of investments for 10 local government pension schemes, which include those in Buckinghamshire, Cornwall, Devon, Dorset, Oxfordshire and Somerset.

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