One of local government’s biggest joint pension partnerships has now pooled £47.5bn of the £60bn assets under its management.
The giant Border to Coast Pensions Partnership (BCPP), one of eight pooled funds within the £364bn Local Government Pension Scheme (LGPS), revealed a fourth year of steady growth despite the Covid-19 pandemic.
A statement by BCPP chief executive Rachel Elwell, published alongside its latest accounts, read: ‘To date, £47bn of our partner funds’ circa £60bn of assets have been pooled – demonstrating a clear commitment to pooling and the value it can deliver.’
As of the end of March 2022, BCPP was responsible for £38.3bn of investments – an increase of £13.6bn on the previous year.
However, BCPP chairman Chris Hitchen warned the Ukraine conflict was ‘bringing forward fundamental changes to the investment outlook’.
He added: ‘Supply chain disruption and energy insecurity are factors contributing to a resurgence of inflation, which, if it persists, could change the game for investors.’
This article was originally published by The MJ (£).
