Border to Coast publishes 2025/26 annual report
Author: LAPF Investments | Published: July 22, 2026
Border to Coast has published its annual report for the 2025/26 year, coming in a year of preparation, investment and partnership as the LGPS pooling landscape continued to evolve.
Its year was shaped by the government’s Fit for the Future reforms, leading to the expansion of the partnership from 11 to 18 partner funds from 1 April. Together, the expanded partnership is responsible for around £120bn of assets, being managed on behalf of more than two million LGPS members and 5,000 employers.
Among its achievements was £271m of cost savings, and the launch of the £2.6bn Global Multi-Factor Equity Index Fund – enabling partner funds’ access to an innovative and fully customisable index strategy.
There was also a 19% increase in headcount to help deliver a 2030 strategy in line with the Fit for the Future requirements.
The report also highlights progress against the pool’s 2030 strategy, which focuses on delivering the existing remit effectively, providing additional value for partner funds and preparing to capture the benefits of greater scale.
Activity during the year included developing investment management services and advisory capabilities, implementing a new investment and data platform, and strengthening responsible investment and stewardship practices.
In her executive statement reflecting on the annual report, Border to Coast chief executive Rachel Elwell said: “The past year has been one of the most significant in Border to Coast’s history.
“Scale, for us, is not about size for its own sake. It’s an enabler. It enables greater innovation, stronger governance and means we can deliver more value for partner funds, whose collective voice will be stronger and clearer.
“It isn’t just about bigger portfolios; it’s about bigger possibilities. As we introduce new capabilities and deliver the next phase of our 2030 Strategy, we do so with renewed confidence and sense of purpose in delivering for our partner funds, participating employers, LGPS members and local taxpayers.”
