On the go: The £1bn London Borough of Bexley Pension Fund has selected Redington as investment consultant, having launched a procurement process in early March.
According to documents from a Bexley pension committee meeting in July, the Local Government Pension Scheme fund’s previous investment consultant, Aon Hewitt, which had been with the scheme for 13 years, had its contract expiring on July 1 2022.
Consequently, the fund launched a search using the National LGPS Framework and received five tenders, ultimately selecting Redington.
The candidate suppliers were scored against three broad subject criteria, of which 30 per cent accounted for quality, 40 per cent accounted for service fit, and a further 30 per cent for price.
The fund also listed support in implementing and progressing its responsible investment policy as a requirement for the possible investment consultant.
On the appointment of Redington, the document read: “The approach to responsible investment was consistent with the fund’s values, with a large dedicated responsible investment team to help the fund further progress its journey in this area.”
Tri-Borough director Phil Triggs said: “We have always been very conscious of our duty as investors, and are committed to demonstrating good corporate governance and responsibility via our investment strategy.”
This article originally appeared on MandateWire.com
