In 2015 the government announced that they:
- wanted the 89 LGPS Funds to pool their investments into larger pools.
This was to try and achieve savings in investment management costs.
In response to the government agenda, Brunel Pension Partnership Ltd. was set up to explore the options for pooling investment assets across ten Funds. There Funds are:
- Cornwall Pension Fund
- Environment Agency Pension Fund
- Avon Pension Fund
- Buckinghamshire Pension Fund
- Devon Pension Fund
- Dorset Pension Fund
- Gloucestershire Pension Fund
- Oxfordshire Pension Fund
- Somerset Pension Fund
- Wiltshire Pension Fund
The collective assets of this pool are approximately £30bn.
The objective of pooling the assets is to achieve savings over the longer term by:
- lowering investment management costs; and
- more effective management of the investment assets.
The pool will look to deliver the savings by utilising the buying power pooling will produce.
Local accountability will be maintained. Each individual fund will remain responsible for strategic decisions including asset allocation.
Further information on the Brunel Pension Partnership Ltd. can be found on their website at www.brunelpensionpartnership.org