LGPS Central, which manages the pooled assets of nine local government pensions schemes in the UK, has appointed Fidelity International and Neuberger Berman as external managers for its Global Investment Grade Corporate Bond Fund.
Each fund manager will receive half of the fund’s total mandate.
The appointments follow a tendering process which saw over 70 fund managers from across the world expressing an interest the mandate.
The nine Midlands-based local government pension schemes involved are: Cheshire, Derbyshire, Leicestershire, Nottinghamshire, Shropshire, Staffordshire, Worcestershire, West Midlands Pension Fund and the West Midlands Integrated Transport Authority.
Collectively the nine funds have approximately £44 billion (€51 billion) of investment assets.
LGPS Central Limited currently has over £20 billion of assets under management and advice and is one of eight LGPS asset pools in England and Wales.
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