Interview – LGPS Central


INTERVIEW – GORDON ROSS


“Tell me what central bank rates will be next year, and I will tell you where the markets will be.”


Gordon Ross, chief investment officer at LGPS Central, has had to face many challenges posed by the pandemic in his first year in the job. But, despite this, he tells Andrew Holt it has been a case of business as usual.


You became chief investment officer of LGPS Central during the global pandemic in spring last year. How has the first year been?


It has been very busy. We have had to make sure


everything functions, with


people being remote in one shape or form. We were lucky though, because ironically, we undertook an in-depth dis- aster recovery process in January 2020. So, we were prepared for this – if, anyone can be prepared.


And despite the lockdown we have launched some funds: undertook the pro- curement of managers, did the due dili- gence and then the transition to those


14 | portfolio institutional | May 2021 | issue 103


managers. All of that despite not being in the office – it has not stopped business. And our partner funds interests have been maintained through it all. I am proud of the teams because we are a young company. Prior to the first lock- down, we recruited 10 people and they, as yet, have not been to office. But we have been able to integrate them into the business.


What particular challenges have there been?


The challenges have been process driven. They are the remote working challenges – to make sure you have good access to peo-


ple. And connected to this, to keep staff informed and make sure they are okay. So essentially, ensuring everyone is working well together.


Like most pension funds you reported con- siderable losses in March 2020. Have you recovered from this episode? For the funds that were externally man- aged, it was a modest period. But as we know now, the performance of the equity markets is back up to pre-pandemic highs and, until the end of February, yields were as low as they have been. So, it was a mar- ket-to-market concern in one quarter, rather than a loss taken.


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