Wiltshire appoints sustainable equities manager
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The £3.2bn Wiltshire Pension Fund has tapped Lombard Odier Investment Managers for an allocation to a global sustainable equity fund.
The local authority scheme with about 86,000 members has selected LOIM’s Planetary Transition strategy to fulfil the listed equity allocation of its climate opportunities portfolio. The size of the mandate has not been revealed.
Head of Wiltshire Pension Fund Jennifer Devine said she believes the strategy to be “a great fit for Clops, aligning well with our investment philosophy”.
The fund has allocated £75m to the climate opportunities portfolio, which has a dual mandate to deliver competitive market returns and a measurable positive environmental impact. Listed equities represent 20% of the portfolio.
The fund has allocated £75m to the climate opportunities portfolio, which has a dual mandate to deliver competitive market returns and a measurable positive environmental impact. Listed equities represent 20% of the portfolio.
Devine praised LOIM’s use of planetary boundaries, system roadmaps and investment research. The LOIM fund invests actively in companies that are driving the transition to net zero, according to the manager. LOIM was also hired by Nest for a £5bn global thematic equity mandate earlier this year.
Ritesh Bamania, head of UK institutional sales and global consultant relations at LOIM, said: “Both Wiltshire and Lombard Odier share the conviction that sustainability trends can drive returns in active equities.”
Wiltshire Pension Fund has a target of allocating 30% of the fund to sustainable or low carbon green assets by 2025, and 35% by 2030. It last reported an allocation of 28.7% to 'green and sustainable' assets.
It reduced its carbon footprint by 23.3% as at December 2022, having set itself a whole fund reduction target of 50% by 2030. For listed equities, it plans to reduce emissions by 43% by 2025 and 69% by 2030.
Wiltshire Pension Fund has a target of allocating 30% of the fund to sustainable or low carbon green assets by 2025, and 35% by 2030. It last reported an allocation of 28.7% to 'green and sustainable' assets.
It reduced its carbon footprint by 23.3% as at December 2022, having set itself a whole fund reduction target of 50% by 2030. For listed equities, it plans to reduce emissions by 43% by 2025 and 69% by 2030.
