ACCESS announces FCA approved sub-fund
Link Fund Solutions Ltd, the ACCESS pool operator, has received approval from the Financial Conduct Authority (FCA) for a global equity sub-fund for the pool.
The first global equity sub-fund is due to launch in October 2018 with an investment of £1.6bn by three of the ACCESS LGPS pension funds, resulting in anticipated savings of £1.5m per annum. Eventual savings are expected to be £1.9m per annum.
It is anticipated that more sub-funds will be launched in early 2019 facilitating a further significant move of assets to meet the government’s objective of delivering reduced costs whilst maintaining overall investment performance.