PRESS RELEASE, 03 September 2019
FOR IMMEDIATE RELEASE
Following the start of its Global Small Cap pre-search and registration process in July, Brunel Pension Partnership Limited (Brunel) has launched its call for expressions of interest.
The deadline for receipt of expressions of interest, using the briefing document and submission template, is 11am GMT on Friday 20 September 2019.
“The Small Cap phenomenon offers a well observed opportunity, which we expect our Clients to benefit from with this sub-fund,” says David Cox, Brunel’s Head of Listed Markets. “A long-term approach can translate into impressive returns. In keeping with our overall outlook, individual mandates in this sub-fund will be long-term only.”
Brunel expects to spread the portfolio between two or three managers with diverse and complementary approaches. “We will be looking for a global approach, with compelling small cap investment capability and strong evidence of ESG integration. Both fundamental and quantitative managers will be considered for this portfolio. We will not consider regionally focused mandates.”
Small Cap equities refer to shares in publicly listed companies which are defined as ‘smaller’ by market capitalisation, when compared to the total investable universe of stocks. Accordingly, the benchmark for this portfolio is the MSCI Small Cap World index. We are comfortable with a small off-benchmark allocation to emerging markets or micro-caps (i.e. up to 30% of the portfolio).
The Global Small Cap portfolio is expected to deliver long term outperformance with manageable levels of risk. The portfolio size will be approximately £365m, to be allocated between the selected managers. The sub-fund will be delivered through the ACS platform Brunel has developed in conjunction with FundRock.
The formal launch is scheduled for Q2 2020.
Fund managers invited to get in touch
Fund managers who haven’t yet submitted details or who have pre-registered but haven’t received an acknowledgement should email smallercompanies@brunelpp.org. They will then receive the briefing document on the call for expressions of interest and a submission template.
The email should have a subject of ‘Small Cap EOI Documentation Request’. If an acknowledgement is not received within 48-hours, please forward your email to investments.brunel@brunelpp.org.
About Brunel Pension Partnership Limited
Brunel Pension Partnership Limited (Brunel) brings together circa £30 billion investments of 10 likeminded Local Government Pension Scheme funds. We believe in making long-term sustainable investments supported by robust and transparent process. We are here to protect the interests of our clients and their members. In collaboration with all our stakeholders we are forging better futures by investing for a world worth living in.
Brunel is one of eight national LGPS pools and manages the investment of pension assets for the funds of Avon, Buckinghamshire, Cornwall, Devon, Dorset, Environment Agency, Gloucestershire, Oxfordshire, Somerset and Wiltshire.
Find out more at www.brunelpensionpartnership.org