LGPS Central receives FCA authorisation

LGPS Central Limited, the asset management company set up to manage the assets of nine Central Midlands-based Local Government Pension Scheme funds, has announced that it has received FCA authorisation. The Company has been authorised to operate as an Alternative Investment Fund Manager (AIFM). The FCA authorisation permits it to act as the operator of an Authorised Contractual Scheme (ACS), and provide a range of discretionary and advisory investment services to its clients.

Joanne Segars, Chair of the Company said: “This is a key milestone for the Company. We are absolutely delighted to have received our authorisation. It is a testament to the arduous work and dedication of the programme team from our Partner Funds who have been working on the set up of Central for the last 18 months, and our growing team of Company executives.” Segars said that LGPS Central is on track for the April launch of the company and transition of assets to the company’s first ACS sub-funds. Segars also said that LGPS Central has detailed plans in place for the launch of new sub-funds, products and services for partner funds during the rest of 2018/19 and beyond.