UK equities | Feature


New horizons


With institutional investors dumping their UK equities, Mark Dunne looks at how portfolios are evolving.


Last year Brunel Pensions Partnership gave its member funds an early Christ- mas present. In early December, the £30bn pool, which manages the retire- ment assets of 10 councils in the South and Southwest, launched an active UK equity fund designed to outperform its benchmark by 2%. To help achieve this, the pool spread the decision-making across three firms, picking Invesco, Baillie Gifford and Aberdeen Standard Investments to man- age the £1.6bn Active UK Equity fund. This was the first fund launched as part of its £7.5bn tax efficient ACS struc- ture, which has been designed to benefit government workers in counties including Cornwall, Dorset and Gloucestershire.


Issue 82 | March 2019 | portfolio institutional | 39


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