The addition brings around £1.5bn of infrastructure funds into the pool – which looks after £35bn in assets – and has marked the second phase of the private market offering for its administering authorities.
The IFM Global Infrastructure Fund focuses on ‘core+’ and ‘value add’ investments, with a key focus on transport, social infrastructure, energy and telecommunications. The J.P. Morgan Infrastructure Strategy looks at ‘core/core+’ investments and covers regulated utilities, GDP sensitive assets, and contracted power and energy assets.
Access joint committee chair Mark Kemp-Gee said: “We are delighted to confirm the use of both the IFM and JP Morgan infrastructure funds. Infrastructure is a key asset class for our administering authorities, and this move brings existing relationships and investments under the pool alignment and governance. The addition of these infrastructure funds offers Access Authorities high-quality managers and diversified investment opportunities.”
IFM Investors chief executive (CEO) David Neal added: “We’re proud to have the opportunity to partner with Access and look forward to helping them meet their investment objectives and consolidation goals.
“Our focus is on delivering long-term risk-adjusted investment returns which we believe aligns well with what the 11 local pension schemes that participate in Access are looking to achieve for their members.”
J.P. Morgan Asset Management Europe, Middle East & Africa CEO Patrick Thomson commented: “My team are delighted to partner with the Access pool for their core infrastructure allocation. This landmark partnership further strengthens our commitment to the LGPS partner funds where we have delivered access to a competitive, global, core, diversified infrastructure strategy for over 15 years.
“The strategy is aligned to many of the values and goals of the LGPS, designed to generate uncorrelated returns, stable income and inflation protection whilst focused on sustainability given the critical role of these infrastructure investments in the energy transition.”
Read more:
