Staffordshire County Council · Awarded contract

Awarded

Transition Management Services for Staffordshire Pension Fund's Divestment from J.P. Morgan and Investment in LGPS Central FBI Fund

Awarded 31 Jul 2023

View live tenders

Awarded31 Jul 2023

Value£86,190.00

SupplierMacquarie Capital (Europe) Limited

AgencyStaffordshire County Council

RegionWest Midlands

CategoryFinance & Insurance

Ended 3y ago3mo term

Awarded 31 July 2023Expired 31 Oct 2023

About

Staffordshire County Council awarded a contract to Macquarie Capital (Europe) Limited for transition management services related to the Staffordshire Pension Fund's divestment from J.P.

Morgan and investment into the LGPS Central All World Equity Climate Multi Factor Fund.

The transition manager will reduce costs by transitioning assets 'in-specie' where possible and position the assets into the desired portfolio for the new investment.

This follows the Pensions Panel's approval on 6 June 2023 to increase the Fund's allocation to Factor-Based Investment (FBI) equities from 5.0% to 8.8%, with 4.4% (c£295m) awarded to the new LGPS Central fund, funded from assets managed by J.P.

Morgan.

The contract value is £86,190.

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