A Collective Investment Vehicle for London Local Authorities (LLA) Pension Funds which delivers broader investment opportunities and enhanced cost efficiencies than LLAs can achieve individually and overall better risk adjusted performance.
Launched in December 2015, we are unique in being the first fully authorised and regulated investment management company set up by local government, for local government the UK. Our founding members are London boroughs and the City of London Corporation and we have been established as a collective investment vehicle for their Local Government Pension Scheme funds.
As the first quarter of 2018 drew to a close the LCIV’s assets under oversight had grown to a little under £15 billion, which represents around 40% of the 32 London Local Authorities’ total assets under management. A further £1billion has been committed to LCIV funds for transitioning during the second quarter which will take the number of LLAs using the funds made available through the LCIV to 30. We are continuing to develop and launch new funds. A sustainable equities fund will go live in April with a multi asset credit strategy scheduled to launch in June. Further fixed income funds are planned for later in the year subject to commitments being received.