Border to Coast Pensions Partnership, one of the largest public sector pension pools in the UK, is on track to deliver over £110 million (€127 million) of net savings over a decade to the pension funds that belong to its pool.
Savings could amount to £250 million over 15 years, said the organisation in its third annual report.
Border to Coast involves £35.4 billion of assets under management or advice for eleven local government pension schemes. Set up in 2018, the pool aimed for asset-management cost savings, asset diversification, and to give its partner funds an increased ‘voice’ as active investors.
Chris Hitchen, chair of Border to Coast, said: “We were created to make a difference – and we are already delivering for and on behalf our partner funds. While we are only three years into our initial five-year strategic plan, given the challenges of setting up a FCA-regulated asset manager and managing through Covid-19, what we have achieved together with our partner funds is truly impressive.”
The cost savings are revealed in the organisation’s third annual report, which also notes that there are 100 employees at Border to Coast and that a co-investment in Sleaford Renewable Energy Plant can potentially generate electricity for 65,000 homes and save 50,000 tonnes of CO2 per annum.
© 2021 funds europe
