News

The Windmill, Brixton
05 Jun 2018

LCIV MAC Fund Launch

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

19 Apr 2018

LCIV RBC Sustainable Equity Fund launch

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.