Merseyside Pension Fund has announced the appointment of investment consultancy firm Redington as its strategic investment adviser.
Redington has been appointed on a retained basis with an initial term of three years and will partner with the fund’s investment team to support on all areas of investment strategy, with a particular emphasis on responsible investment (RI).
One of Redington’s first priorities, according to the pension fund, will be to help deliver a change programme over the next 12-24 months that encompasses delivery of a net-zero action plan and wider RI strategy; a full review of the fund’s equity, fixed income and private market portfolios; and a wider review of its risk management arrangement.
Another key objective is to consolidate the fund’s strong funding position whilst continuing to meet its wider strategic objectives.
The procurement was formally completed in October 2022 and reflected Redington’s “expanding presence” in the Local Government Pension Scheme (LGPS) market.
Redington head of LGPS, Jill Davys, commented: “It’s a pleasure to announce our newest client in the LGPS space, where we continue to witness increasing appetite for innovative solutions in investment strategy, risk management and sustainable investment.
“Merseyside is a highly dedicated scheme with a strong track record of delivering for members, and we welcome its commitment to responsible investment and to channelling its influence for greater good.
“The team and I look forward to supporting them on that long-term journey while helping to navigate current conditions in an increasingly complex investment landscape.”
Merseyside Pension Fund director of pensions, Peter Wallach, added: “Merseyside Pension Fund is at a critical juncture in its journey – as well as looking to consolidate a strong funding position we are undertaking a detailed change programme, reviewing all areas of investment strategy inclusive of net zero.
“Redington bring a fresh, innovative perspective and a straightforward approach to solving problems.
“We are excited about working in partnership with the Redington team as we strive to produce the best solutions and outcomes for our scheme employers, scheme members and stakeholders in general.”
