ACCESS LGPS Pool confirms IFM and J.P. Morgan Infrastructure Funds
Following a review conducted by consulting firm Mercer, the ACCESS Pool, which consists of assets totalling c.£35bn on behalf of participating Pension Funds, has confirmed the use of two infrastructure fund vehicles managed by IFM Investors and J.P. Morgan. The addition of these funds marks the second phase of the Private Market offering for the Administering Authorities who make up the ACCESS Pool.
The IFM Global Infrastructure Fund, focused on Core+ / Value Add investments, has been very successful when it comes to acquiring positions in large assets. The fund focusses on transportation, social infrastructure, energy and telecommunications.
Meanwhile, the J.P. Morgan Infrastructure Strategy is a global mandate focused on Core/Core+ investments, with a well-diversified global asset base, split between three main subsectors: regulated utilities, GDP sensitive assets and contracted power and energy assets.
This move brings c.£1.5bn of infrastructure funds into ACCESS Pool alignment, while also helping the Pool to diversify investment capabilities in line with long-term objectives.
Cllr Mark Kemp-Gee, Chairman of the ACCESS Joint Committee, said, “We are delighted to confirm the use of both the IFM & JP Morgan infrastructure funds. Infrastructure is a key asset class for our Administering Authorities, and this move brings existing relationships and investments under the Pool alignment and governance. The addition of these infrastructure funds offers ACCESS Authorities high-quality managers and diversified investment opportunities.”
David Neal, Chief Executive, IFM Investors, said, “We’re proud to have the opportunity to partner with ACCESS and look forward to helping them meet their investment objectives and consolidation goals.
“Our focus is on delivering long-term risk-adjusted investment returns which we believe aligns well with what the 11 local pension schemes that participate in ACCESS are looking to achieve for their members.”
Patrick Thomson, Chief Executive, Europe, Middle East & Africa at J.P. Morgan Asset Management, said, “My team are delighted to partner with the ACCESS Pool for their Core Infrastructure allocation. This landmark partnership further strengthens our commitment to the LGPS partner funds where we have delivered access to a competitive, global, core, diversified infrastructure strategy for over 15 years. The strategy is aligned to many of the values and goals of the LGPS, designed to generate uncorrelated returns, stable income and inflation protection whilst focused on sustainability given the critical role of these infrastructure investments in the energy transition.”
Anoushaa Massouleh, Head of EMEA Media Relations at J.P. Morgan Asset Management
Notes for Editors
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.
ACCESS 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.
As at 30 September 2023, ACCESS’ pooled assets totalled £35bn.
About IFM Investors
IFM Investors was established more than 25 years ago with the aim to invest, protect and grow the long-term retirement savings of working people. Owned by a group of Australian pension funds, the organisation has approximately A$216 billion under management as at 30 September 2023. Because IFM is owned by industry pension funds, we prioritise the interests of 640 like-minded investors worldwide by focusing on assets that combine excellent long-term risk/reward characteristics with broad economic and social benefits to the community. As a signatory to The United Nations-supported Principles for Responsible Investment, IFM actively engages on ESG issues with the companies in which we invest with the aim of enhancing their net performance while minimising investment risk. Operating globally from offices in Melbourne, Sydney, London, Berlin, Zurich, Amsterdam, Milan, New York, Houston, Hong Kong, Seoul and Tokyo, IFM manages investments across infrastructure, debt, listed equities and private equity assets. For more information, visit www.ifminvestors.com.
About J.P. Morgan Asset Management
J.P. Morgan Asset Management, with assets under management of USD 3.1 trillion (as of December 31, 2023), is a global leader in investment management. J.P. Morgan Asset Management’s clients include institutions, retail investors and high net worth individuals in every major market throughout the world. J.P. Morgan Asset Management offers global investment management in equities, fixed income, real estate, hedge funds, private equity and liquidity.
JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America (“U.S.”), with operations worldwide. JPMorgan Chase had $3.9 trillion in assets and $328 billion in stockholders’ equity as of December 31, 2023. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers in the U.S., and many of the world’s most prominent corporate, institutional and government clients globally. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com