Fixed Income Mandates Manager Day: 17 June in Leeds

Following the launch of our UK Equity Alpha Fund in Q4 2018 and forthcoming Global Equity Alpha Fund in Q3 2019, Border to Coast will soon begin the manager selection process for our Fixed Income Funds. We will be focussing on UK Investment Grade Credit and global Multi-Asset Credit, which are expected to launch in Q4 2019 and H1 2020 respectively. The funds are each expected to have assets under management of £2-3bn at launch.

A Prior Information Notice has been published on Tenders Electronic Daily. This relates specifically to investment management services for both the Investment Grade and Multi-Asset Credit funds, where we have been working closely with our LGPS Partner Funds to ensure the structure, risk and return objectives best meet their needs.

For Investment Grade Credit, we will be seeking 2-3 active managers with a long-term, low-turnover approach, focusing on high-quality credit selection. For Multi-Asset Credit we intend to employ a core-satellite approach. Consequently, we are seeking an experienced core MAC manager to provide investment management services and a strategic partnership on asset allocation, as well as specialists in other areas of the credit market such as high yield bonds, leveraged loans, emerging market debt and asset-backed securities for individual asset class mandates. We are expecting to run a two-stage procurement for Multi-Asset Credit, with the core manager appointed first followed by the specialist managers at a later stage.

Border to Coast will hold a Fixed Income Manager day on 17 June 2019 to provide further detail on both mandates.

We will be covering:

  • An update on Border to Coast
  • The proposed structure of the Investment Grade Credit Sub-Fund
  • The proposed structure of the Multi-Asset Credit Sub-Fund
  • Details on our approach to selection and working with external manager partners
  • Q&A

Please note that the manager day will be focused entirely on Fixed Income and thus we would only encourage those interested in submitting a mandate for either Fund to attend. We will not be discussing Equities or Private Markets. If you wish to submit your interest for the manager day, please contact Border to Coast on events@bordertocoast.org.uk. Please include “Fixed Income” in the subject line.