Northern LGPS to introduce Property Investment Management Services
Submitted by Editor on Thu, 07/05/2020 - 10:15
Northern LGPS has launched a procurement framework for property investment managers to support the delivery of a range of investment and asset management services.
The first of its kind across UK pools, the framework will enable funds to take a more cost-effective approach to collective portfolio management, enabling a financially viable approach to direct property pooling while continuing to access best-in-class investment managers.
This approach will mirror Northern’s use of collaboration agreements which has already seen the Pool establish GLIL, its infrastructure investment vehicle, and NPEP, its private equity platform.
Northern is the first Pool to make arrangements for a pooling solution for direct property, and will follow its approach of using collaboration arrangements and compliance with relevant financial regulation to achieve optimal risk adjusted investment returns.
Councillor Gerald Cooney, chair of Northern LGPS, said: “This framework is a major milestone in enabling Northern LGPS taking direct property investment forward, following our success in managing risk and delivering strong returns in other alternative asset classes.
“It recognises our ambition to remain the most cost-effective and efficient local government investment pool, with a portfolio that delivers sustainable returns to ensure our members enjoy the best possible retirement.”
Northern LGPS is the largest of eight local government pools set up to drive down costs and improve efficiencies for five million former and current council workers.
Northern LGPS is committed to the highest standards of governance, asset safety and transparency in reporting. In February 2019, it launched its ground-breaking responsible investment policy with a strong emphasis on environmental, social and governance issues.
Hymans Robertson will provide support to the procurement exercise.
