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Border to Coast appoints managers for multi-asset credit fund

multi_asset_creditBorder to Coast, a UK local authority pooled pension fund, has appointed four specialist managers for its multi-asset credit fund set for launch next year.

Over 110 managers applied and were assessed for technical quality, value for money and complementarity of fit across the portfolio.

The four managers will between them manage £2.7 billion (€2.9 billion) of Border to Coast’s £46 billion of total assets.

The managers and asset classes are:

  • PGIM Fixed Income - securitised credit
  • Barings – global syndicated loans
  • Wellington Management - global high yield
  • Ashmore - emerging market debt

Daniel Booth, the chief investment officer of Border to Coast, said the fund will provide access to “the full spectrum” of credit assets.

“The selected managers are expected to make a strong contribution to our purpose by making a positive difference to investment outcomes for the LGPS [local government pension scheme],” he added.

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