The Wales Pension Partnership (WPP) has partnered with Russell Investments to offer a sustainable multi-manager global active equity sub-fund built to its bespoke requirements.
The sub-fund has launched with £1.2bn, with all eight Welsh Funds participating. WPP said it would have the flexibility to evolve as requirements change, and/or as the sustainable landscape develops.
Link Fund Solutions, which was appointed by the WPP as its FCA authorised operator in 2018, is responsible for the creation and operation of the new sub-fund. Russell Investments was first appointed as WPP’s investment management solutions provider in 2018.
Cllr Chris Weaver, chair of the joint governance committee of the Wales Pension Partnership, said the sub fund would provide financial and broader sustainability benefits to the authorities, and their underlying members.
Jim Leggate, head of EMEA sales and clients at Russell Investments, said: “Our bespoke solution gives exposure to a diversified set of best-in-class strategies that simultaneously stand to gain from and contribute to the transition to a more sustainable world. The appointment builds on Russell Investments’ extensive experience in designing and managing sustainable solutions for our clients.”
Karl Midl, CEO of Link Fund Solutions,said: “As operator of the Wales Pension Partnership, we are delighted to launch and oversee the new sustainable global active equity sub-fund. We recognise that sustainability is an increasingly important part of the investment process and we are pleased to support the Wales Pension Partnership in achieving their responsible investing objectives.”
