Scaling with purpose: Border to Coast publishes Annual Report and Accounts
Posted on July 20th, 2026
- Border to Coast’s Annual Report and Accounts highlights a year of significant change as the partnership prepared to expand to 18 Partner Funds from 1 April 2026.
- The report highlights the development of investment capabilities, work to strengthen operational resilience and prepare to deliver additional value for Partner Funds.
- Since inception, Border to Coast has delivered £271m in cost savings for Partner Funds.
Border to Coast Pensions Partnership (‘Border to Coast’) published its Annual Report and Accounts for 2025-26 last week, outlining a year of preparation, investment and partnership as the LGPS pooling landscape continued to evolve.
The financial year was shaped by the Government’s Fit for the Future reforms, which led to the expansion of the partnership from 11 to 18 Partner Funds from 1 April 2026. Together, the expanded partnership is responsible for around £120bn of assets on behalf of more than two million LGPS members and 5,000 employers.
Highlights of the year to 31 March 2026:
- £271m of cost savings delivered for Partner Funds since inception
- Launch of the £2.6bn Global Multi-Factor Equity Index Fund enabling Partner Fund access to an innovative and fully customisable index strategy
- 19% increase in headcount to help deliver 2030 strategy in line with Fit for the Future requirements
- Scaling up the directly-invested UK Real Estate Fund to £2bn
The report also highlights progress against Border to Coast’s 2030 Strategy, which focuses on delivering the existing remit effectively, providing additional value for Partner Funds and preparing to capture the benefits of greater scale. Activity during the year included developing investment management services and advisory capabilities, implementing a new investment and data platform, and strengthening responsible investment and stewardship practices.
As Rachel Elwell, CEO, sets out in her Executive Statement: “The past year has been one of the most significant in Border to Coast’s history. Scale, for us, is not about size for its own sake. It’s an enabler. It enables greater innovation, stronger governance and means we can deliver more value for Partner Funds, whose collective voice will be stronger and clearer. It isn’t just about bigger portfolios; it’s about bigger possibilities.
“As we introduce new capabilities and deliver the next phase of our 2030 Strategy, we do so with renewed confidence and sense of purpose in delivering for our Partner Funds, participating employers, LGPS members and local taxpayers.”
To read the full Annual Report and Accounts, click here: Border to Coast corporate reports.
Back to all News & Insights