Border to Coast Pensions Partnership goes live

Border to Coast Pensions Partnership goes live with £7bn of assets under management

Leeds, Thursday 26 July 2018 – Border to Coast Pensions Partnership (“Border to Coast”), one of the largest UK public sector pension pools, has today announced the launch of its first pooled investment vehicles following the transfer of c. £7bn of UK and overseas developed equities from three LGPS pension funds.

Teesside, East Riding and South Yorkshire Pensions Authority have transferred internally managed equity assets into the Border to Coast UK Listed Equity Fund and Border to Coast Overseas Developed Fund. These are the first two sub-funds of the Border to Coast Authorised Contractual Scheme (“ACS”), with more to follow over the coming months and years, starting with Emerging Markets Equity and a further UK Equity fund in Q4 2018 and Global Equity in Q1 2019. These launches will see assets under management in Border to Coast above the £10bn mark by the end of 2018 as other Partner Funds make their first investments.

Border to Coast is also operating advisory mandates to Teesside, East Riding and South Yorkshire totaling c. £5bn for the assets not yet transferred from them.

Rachel Elwell, CEO, Border to Coast said:

“We are all delighted to have achieved this significant milestone, which is testament to the strong partnership that has been built between our Partner Funds, with the newly formed Border to Coast and with our advisors and service providers. It has very much been a team effort and we are looking forward to building on this in the future to achieve our aim of making a difference to long-term investment outcomes for our LGPS partners.”

Chris Hitchen, Chair of Border to Coast added: “The Board is very excited that Border to Coast is up and running money. It is a testament to Rachel and her team that such a challenging programme has been delivered not only on time but also with great care and attention to detail. There is a real buzz around our Leeds HQ and I am confident we will make our Partner Funds proud.”

Ends

Media enquiries

Border to Coast Pensions Partnership Ltd.  rachel.elwell@bordertocoast.org.uk
Rachel Elwell – Chief Executive Officer  +44 (0) 1134 872 514

Notes to editors

Border to Coast will invest the assets of the Bedfordshire, Cumbria, Durham, East Riding, Lincolnshire, Northumberland, North Yorkshire, Surrey, South Yorkshire, Teesside, Tyne and Wear and Warwickshire LGPS pension funds totalling £47 billion. It is based in Leeds.

Further details can be found at https://www.bordertocoast.org.uk/

Border to Coast Pensions Partnership Ltd is authorised and regulated by the Financial Conduct Authority. Registered in England Number: 10795539 and Registered Office: 5th Floor, Toronto Square, Toronto Street, Leeds, LS1 2HJ.