LGPS Central, a UK Local Government Pension Scheme (LGPS) pool, has appointed Longview Partners as the fourth manager in its Global Equity Active Multi-Manager ACS Sub-fund.
The recent selection process sought “a leading manager that employs a fundamental approach to investing with a quality factor bias and a proven track record”. Launched in March 2019, this ACS sub-fund has garnered support from six out of eight of its Partner Funds. Longview Partners joins the ranks of Harris, Schroders and Union, and the sub-fund will continue to be benchmarked against the FTSE All-World Index.
The fund, currently managing assets of over £3.5 billion, aims to outperform the FTSE All-World Index by 1.5% per annum (net of costs) over rolling five-year periods.
LGPS Central invests £220mn in UK infrastructure debt
Mark Davies, head of public markets at LGPS Central, said: “The balance between our preferred style biases in our global equities active multi-manager fund offers the advantage of diversifying investment styles. Adding Longview, a high conviction, Quality focused manager with a long-term track record of delivering excess returns for LGPS members, will bring clear benefits. Improving on our already 1st Quartile* track record. The balanced approach we take enables the fund to achieve more consistent performance across different market cycles, offering our Partner Funds a more stable and potentially higher long-term return.”
Marina Lund, CEO of Longview, said: “Our investment process seeks to generate long-term alpha by investing in a concentrated portfolio of high-quality global equities. Our strategy focuses on selecting quality companies, with strong business fundamentals at attractive valuations; we seek companies that can compound free cash flow in a predictable manner over time. We believe that a concentrated portfolio with high active share and disciplined, team-based decision making will deliver strong and consistent long-term returns.”
