Fund Management

The London Borough of Bexley Pension Fund is a member of the London Collective Investment Vehicle (LCIV).    LCIV is an FCA regulated firm for pooling the London Local Authorities Pension Fund investments. The Bexley Fund is currently invested in the following four LCIV funds:

  • Global Equity – managed by Newton
  • Income Equity – managed by Epoch
  • Absolute Return Fund – managed by Ruffer
  • Global Bond Fund – managed by PIMCO

Bexley also holds passive holdings with Blackrock on an LCIV negotiated fee rate.

The Fund holds the following investments directly with fund managers outside of LCIV:

  • Private Equity – managed by Partners
  • Infrastructure – managed by UBS
  • Property – managed by LaSalle

The managers follow strict investment guidelines. LCIV set the guidelines for the managers or their funds. Bexley set the guidelines for those managers that it invests with directly, drawing on expert advice from an independent investment advisor.

All managers and LCIV funds are monitored on a monthly basis by council officers and a quarterly basis by the Pensions Committee.