ACCESS LGPS Investment Pool launches four new sub-funds
ACCESS LGPS Investment Pool launches four new sub-funds to pool a further £3.2bn
The assets invested by the constituent schemes brings the total ACCESS Pool assets under management to £33.1bn.
Four new externally managed funds enhance the fixed income and UK equity solutions for the 11 Local Authorities.
17 March 2022 – Link Fund Solutions Limited (LFS), on behalf of the ACCESS, has launched four new sub-funds, adding £3.2bn to the Local Government Pension Scheme (LGPS) pool.
The transfer of assets to the four externally managed sub-funds brings the total pooled assets under management within ACCESS to £33.1bn, with £22.2bn managed actively within the LFS Authorised Contractual Scheme (ACS) and a further £10.9bn in passive funds.
The sub-funds, launched in July, October, December 2021 and February 2022, are the LF ACCESS UK Select Fund managed by BlackRock, the LF ACCESS Alpha Opportunities Fund managed by M&G, the LF ACCESS Sterling Investment Grade Credit Fund managed by Fidelity and the LF Global Equity Fund – Macquarie, managed by Macquarie.
ACCESS is a collaboration of 11 LGPS schemes which enables the investments on behalf of more than one million members and 3,400 public sector employers. ACCESS now provides each Local Authority with the opportunity to join any of 26 actively managed sub-fund strategies via the ACS platform operated by LFS.
Commenting on the launch, Cllr Kemp-Gee, Chairman of the ACCESS Joint Committee, said, “The addition of these sub-funds enriches the existing range of mandates available to Local Authorities, demonstrating the strong relationship ACCESS has with Link Fund Solutions (LFS) and our commitment to providing valuable options to Councils as they strive to deliver their members’ needs.”
Karl Midl, Manager Director of Link Fund Solutions said: “Having worked closely with the ACCESS Joint Committee we are extremely pleased to have appointed these fund managers to further expand the range of investment mandates available to ACCESS Councils, to deliver strong investment performance, material cost savings and further strengthen our successful track record since the launch of the pool”.
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About the ACCESS Pool
The ACCESS (A Collaboration of Central, Eastern and Southern Shires) is made of 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; West Northamptonshire Council; Suffolk County Council; and West Sussex County Council.
The ACCESS Administering Authorities are committed to working together and have each signed an Inter Authority Agreement, setting out how they will work together in response to the Governments pooling agenda across the LGPS, and to optimise benefits and efficiencies on behalf of their individual and collective stakeholders.
ACCESS appointed Link Fund Solutions Limited to provide Operator services in early 2018.
Link Fund Solutions Limited is responsible for establishing and operating the Authorised Contractual Scheme (ACS) along with creating the investment sub-funds and appointing the investment managers to those sub-funds.
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