Border to Coast builds on success of UK listed equity alpha fund

Border to Coast Pensions Partnership is searching for up to two external managers to run its £1.5 billion UK Listed Equity Alpha Fund.

Launched in December 2018, the fund provides UK equities exposure via three complementary investment strategies managed by Baillie Gifford, Janus Henderson and UBS Asset Management.

The fund has outperformed its benchmark by more than 4.5% a year and the search is for a long-term strategic partner.

Managers with a strong focus on quality and value investment will be considered for the mandate of up to £500 million.

Graham Long, head of external management at Border to Coast, said: “We expect our managers to integrate ESG considerations throughout their investment process including a strong understanding of the management of climate risk.”

“The overall fund’s carbon footprint is significantly lower than the benchmark and we expect this to remain the case.”