Border to Coast Pensions Partnership, one of the UK’s local government pension scheme pools, has appointed four asset managers to handle its emerging market fund worth £700 million ahead of its launch in spring this year.
Goldman Sachs Asset Management and Baillie Gifford will manage emerging markets ex-China equities, about two-thirds of the total Emerging Markets Equity Fund.
The other two managers, UBS and FountainCap, will jointly manage China equities.
Committed to achieving Net Zero by 2050 or sooner, the pension scheme considered the asset managers’ ESG and climate change ambitions during the selection process.
Graham Long, head of external management at Border to Coast, said the appointed asset managers have a comprehensive understanding of ESG investing in emerging markets.
The firm said the fund would aim to outperform the MSCI Emerging Markets Index by at least 2% annually over three years.
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