Credit
The credit fund seeks to gain cost-effective exposure to diverse sources of return linked to global credit markets and credit instruments. It seeks balanced exposure to the global credit market by investing in a variety of credit sectors including liquid multi-credit, unconstrained emerging market debt, secured lending, direct leading and credit opportunities including distressed debt,
Launched date: September 2017
Fund size: £1.3b (at September 2017)
Structure: special purpose vehicle
Fixed income
The fund aims to deliver optimal long-term risk-adjusted returns, capitalising on opportunities in the global fixed income market, with a strong focus on capital preservation. It will invest predominately in higer credit quality, highly liquid fixed income instruments across geographies, instrument types and maturities.
Launched date: 28 February 2018
Fund size: £320m (at 28 February 2018)
NAV price per unit: £9,959.254 (at 24 April 2018)
Structure: sub-fund of LPP I Asset Poooling Authorised Contractual Scheme
Global equities
The fund is benchmark agnostic, investing across global equity markets through a combination of internally managed and third-party managed investments. The fund seeks to outperform the MSCI All Country World Index in GBP NDR over the full market cycle.
Launch date: October 2016
Fund size: £5.53b (at 30 March 2018)
NAV price per unit: £10,599.948 (at 24 April 2018)
Structure: sub-fund of LPPI Asset Pooling Authorised Contractual Scheme
Factsheet: click here
The internally managed equity portfolio represents c.40% of the global equities fund. This internal mandate focuses on large cap companies which we hold long-term. Before the launch of the global equity fund, the £800m+ internal equity portfolio returned c.9.5% in 2015, significantly ahead of the Mega Cap benchmark at 0.01% and the MSCI World Index at c.4.8%. Click here to view performance.
Global infrastructure
The global infrastructure fund seeks to gain cost-effecitve, diversified exposure to global infrastructure assets, predominately in the UK, Europe and North America. It invests via primary infrastructure funds, co-investments and direct ownerhship in infrastructure assets.
Launch date: June 2017
Fund size: £1.5b (committed capital at September 2017)
Structure: special purpose vehicle
Private equity
The fund seeks to achieve long-term investment returns by investing in companies at various stages of the growth cycle (buyout, growth capital, special situations, distressed).
Launch date: March 2017
Fund size: £1.8b (at September 2017)
Structure: special purpose vehicle