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
We are pleased to announce the launch of the LCIV MAC fund, the first in our fixed income range. The fund has been seeded by four London local authorities (LLAs) with an initial investment of £308 million.
The LCIV MAC fund will initially invest with the CQS Credit Multi Asset Fund.
Other new fixed income offerings in the pipeline include global bonds, private debt, liquid loans and long/short MAC.
Larissa Benbow, LCIV Head of Fixed Income, said
“The LCIV MAC fund offers LLAs an excellent and cost-efficient way to access a broad range of credit strategies in a single product. This will not only allow them to diversify their portfolios in times of greater market uncertainty but also to gain exposures into investments such as loans and other credit opportunities, which not all boroughs have historically had access to.
“As we continue to deliver investment opportunities and greater cost efficiencies to LLAs, we are delighted
We are pleased to announce the launch of the LCIV RBC Sustainable Equity Fund.
The LCIV RBC Sustainable Equity Fund, managed by RBC Global Asset Management (UK) Ltd, is the latest addition to the range of funds available to London local authorities (LLAs). The London Borough of Merton Pension Scheme will be the fund’s seed investor, with £66 million in the fund, as part of a larger transition of assets into the LCIV.
We are continuing to develop and launch new funds with a range of fixed income strategies, including global bonds and private debt, in the pipeline. The first of these, a multi asset credit fund, is scheduled to be seeded in June. Merton’s investment, along with planned commitments from other LLAs, will bring LCIV’s total assets under management and oversight above £15bn, more than 40% of London’s total assets under management.