A senior local government pensions figure has called for the sector to bring more assets into pools ahead of a long-awaited Whitehall consultation.
Chief executive officer of Local Pensions Partnerships Investments (LPPI), Chris Rule, made the call ahead of a Government consultation on the future of pooling that has been promised for three years but is now expected to appear within weeks.
The consultation is expected to propose funds increase transparency about their approach to pooling, with few annual reports currently commenting on progress, their rationale for holding assets outside of pooling or explaining the value for money implications.
LPPI, which invests the assets of Lancashire CC and London Pensions Fund Authority, has achieved the highest returns (8% average) of any pool over a five-year period.
Mr Rule, who has called on the local government pension scheme (LGPS) to accelerate towards the full pooling of assets, told The MJ: ‘I would like to see more assets being brought into the pools.
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