05 Dec 2018 LCIV Global Bond Fund Launch
We are pleased to announce that we have now launched the LCIV Global Bond Fund,
The LCIV Global Bond Fund forms part of the pooling vehicle’s growing fixed income range and marks the second fixed income fund to be launched by LCIV. The initial investment in the fund is to be managed by PIMCO.
The London Borough of Bexley and the London Borough of Croydon have provided the fund’s seed investment; the fund is launching with £100m, with a further £190m of committed inflows.
Larissa Benbow, Head of Fixed Income at LCIV, said “It’s an honour and a privilege to have Bexley and Croydon supporting the launch of the LCIV Global Bond Fund with PIMCO. PIMCO are a strong and progressive partner, and consequently we are delighted to be engaging with them. We believe that the active and research-intensive nature of PIMCO’s investment process will make this fund a compelling fixed income offering to add to the LCIV fund range”
Michael Burns, Executive Vice President and Head of the UK & Ireland at PIMCO, said “We are delighted to partner with London CIV in order to help local authority pension schemes meet their investment objectives. The launch of the Global Bond Fund will allow London boroughs to benefit from PIMCO’s deep investment experience across global fixed income markets, allowing them to gain access to high quality corporate bonds going forward.”
LCIV’s total assets under management and oversight now stand above £17bn, totalling more than 45 per cent of London’s total assets under management. LCIV is continuing to develop and launch new funds across all asset classes, with products in the Equity, Fixed Income and Infrastructure spaces in the pipeline.
For more information on all of the LCIV funds, click here.