Council pension consultants have intensified opposition to Whitehall’s plan for a single model for pooled funds before a key Government consultation closes next week.
Experts at Hymans Robertson believe it would be ‘detrimental’ to Local Government Pension Scheme (LGPS) funds if Whitehall insisted on a single approach to pooling.
Chief investment officer at Hymans, David Walker, said: ‘The consultation is implying that there is a preference for a single approach for pooling funds.
'We believe it would be detrimental.
‘Currently, the pooling landscape gives funds access to a range of alternative approaches, which have all demonstrated benefits across governance, excellent value for money, outstanding performance and the ability to access a range of asset classes.
'Focusing on one approach could result in a concentration of risk.’
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