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 lending and credit opportunities including distressed debt,
Launched date: September 2017
Fund size: £1.3b (at September 2017)
Structure: special purpose vehicle
Diversifying strategies
The Fund seeks to generate a diversifying source of return distinct from global equity and bond markets. It looks to exploit a broad range of relative value and macro directional opportunities in global capital markets. The investment mandate seeks investments in a variety of alternative strategies where the drivers of return are not primarily dependent on market factors.
Launch date: 28 September 2018
Fund size: £750m (at 28 September 2018)
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. The majority of the portfolio will be invested in high credit quality, highly liquid fixed income instruments across geographies, instrument types and maturities.
Launched date: 28 February 2018
Fund size: £740 m (at 31 December 2019)
NAV price per unit: £9,959.670 (at 24 January 2020)
Structure: sub-fund of LPPI Asset Pooling 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: £7.24 bn (at 31 December 2019)
NAV price per unit: £13,941.395 (at 24 January 2020)
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. The fund, which was launched in August 2014, is managed internally by LPP’s investment arm - LPP Investments - and has reached an impressive milestone with the publication of its five-year performance record to 31 August 2019. The £2.97bn global equity portfolio delivered a cumulative total return of 135.9%, versus 83.4% for the MSCI World Index over the five years from inception to its fifth anniversary. Click here to view latest performance.
Global infrastructure
The global infrastructure fund seeks to gain cost-effective, diversified exposure to global infrastructure assets, predominately in the UK, Europe and North America. It invests via primary infrastructure funds, co-investments and direct ownership 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
Real Estate
The Sub-fund seeks a total return (comprising income and capital growth) exceeding that of the Consumer Prices Index by 3% to 5% each year measured over a rolling 10 year period net of all fees and expenses at portfolio level.
Launch date: 1 October 2019
Fund size: £820m (at 1 October 2019)
NAV price per unit: £10,000.000 (at 1 October 2019)
Structure: Sub-fund of LPPI Real Estate ACS