12 March 2018
The Local Government Pension Scheme (LGPS) ACCESS pool (made up of eleven LGPS Shire County Administering Authorities) has appointed Link Fund Solutions Ltd ("Link") to provide pool Operator services. This appointment is the culmination of a procurement process involving each of the eleven ACCESS Funds and co-ordinated by procurement specialists at Kent County Council.
As ACCESS Operator, Link will be responsible for establishing and operating an Authorised Contractual Scheme (ACS) along with the creation of investment sub-funds, and the appointment of investment managers to those sub-funds. As at March 2017 the ACCESS Pool had combined assets in the region of £41bn, all of which are currently managed by third parties.
The contract is for five years with an option to extend for a further period of up to two years. This contract will also allow the ACCESS Funds to review the operating model at regular intervals.
"We look forward to working with our new partners in Link Fund Solutions"
Councillor Andrew Reid, Chairman of the ACCESS Joint Committee said "The Operator is fundamental to the approach ACCESS has adopted and I am delighted that with the completion of this essential procurement we now have the key cornerstone in place. We look forward to working with our new partners in Link Fund Solutions Ltd in building on our initial success and meeting the future requirements of the ACCESS Funds".
"This appointment demonstrates Link's commitment to working with Local Government Pension Schemes"
Peter Hugh Smith, Managing Director, Link Fund Solutions Ltd said: "The pooling of assets is an important development for UK Pension Schemes and this appointment demonstrates Link's commitment to working with Local Government Pension Schemes (LGPS) to deliver on this goal. Not only does it bring potential cost saving for schemes and their members, it also provides the opportunity for both enhanced governance and investment options. LGPS is leading the way in terms of pooling and we are delighted to be selected by the ACCESS Pool to help achieve its goals of cost efficiency and improved performance management, underpinned by robust governance."