We are part of the LGPS Central Pool, a collective investment pool, made up of the following LGPS funds:
- Cheshire Pension Fund
- Derbyshire Pension Fund
- Gloucestershire Pension Fund
- Hampshire Pension Fund
- Leicestershire Pension Fund
- Norfolk Pension Fund
- Nottinghamshire Pension Fund
- Oxfordshire Pension Fund
- Shropshire County Pension Fund
- Staffordshire Pension Fund
- Suffolk Pension Fund
- West Midlands Pension Fund
- Wiltshire Pension Fund
- Worcestershire Pension Fund
The pool acts in accordance with government requirements for the pooling of LGPS investment assets.
LGPS Central Limited
LGPS Central Limited is the FCA regulated company which manages investments on behalf of the 14 LGPS funds within the LGPS Central Pool.
The company is owned by the 14 LGPS funds.
Governance arrangements
The governance arrangements of the pool include the following bodies:
Oversight Board
The Oversight Board has been established to provide strategic oversight, challenge and assurance of the delivery of investment pooling activities.
Membership of the Oversight Board consists of one elected member from each participating council. The Chair of the Pensions and Investments Committee or their nominee is the representative for Derbyshire.
The board will consider:
- client delivery
- innovation
- performance
- client servicing
The board will report back annually on its activities to the individual pension committees of the participating funds within the pool.
Shareholders' engagement forum
The Shareholders’ Engagement Forum is an engagement and consultation body established to facilitate engagement, discussion and information-sharing between the shareholders of LGPS Central Limited and between the company and the shareholders collectively.
The role of the forum is to support effective shareholder oversight of LGPS Central Limited.
Shareholders’ Engagement Forum meetings are distinct from LGPS Central Limited company meetings; however, members of the forum also represent the councils at company meetings.
The Director of Finance represents the Council on the forum.
Client forum
The Client Forum provides a structured forum for clients of LGPS Central Limited to:
- engage with the Company on the delivery of delegated investment management and services
- exercise client oversight, challenge and feedback in respect of how those delegated functions are performing
- support transparency, assurance and continuous improvement within the pooled operating model
Membership of the forum will consist of up to three nominated client representatives from each participating LGPS fund.
The pension fund’s Investments Manager and/or their nominee(s) represents the fund on the Client Forum.
Partner Fund Officer Group
An informal Partner Fund Officer Group has been established to operate alongside the formal governance arrangements of the Pool to provide a structured forum for engagement between the participating LGPS funds at officer level and between the funds and the company and the Company collectively.
Membership will comprise of officer representatives from each participating LGPS fund.
Officer attendance at meetings of this group will be determined based on the matters to be discussed.