UK’s Border to Coast Hires Four Managers for New Global Equity Fund

The $57 billion local authority pension pool eyes starting fixed income, private markets portfolios next.

One of the Britain’s largest public pension pools picked four managers to run its new equity fund.

The £45 billion ($57 billion) Border to Coast Pensions Partnership’s Global Equity Alpha Fund will be run by Harris Associates, Investec Asset Management, Lindsell Train, and Loomis, Sayles.

The pension plan’s latest portfolio is expected to launch later this year with more than $5.7 billion in assets.

More than 90 money management firms submitted proposals. Consulting giant Mercer helped narrow the search down to the four winners.

Border to Coast chose the managers for their active performance and for their agreement to accept lower fees than what some of the local plans in the pension pool’s collection pay.

The local authority pensions pool formed in 2018 and has launched four other stock-based funds so far. Last month, it said private markets and fixed income funds were next when it gave asset managers a heads-up on the strategies.

Border to Coast said it will provide more information on the private and fixed income funds at two upcoming events at its Leeds headquarters. The one for fixed income is June 17 while the private markets “Manager Day” is July 2.

Managers interested in attending the sessions can email, noting which event they plan to attend in the subject line.

Border to Coast runs the retirement assets of 12 UK local authority pension plans, referred to as its “partner funds.” Local government pension schemes, as they are called in the UK, operate like superannuation funds, gathering smaller plans to form one big fund in order to save costs.

Border to Coast could not be reached for comment.


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