Brunel Pension Partnership Limited (Brunel), one of eight pooled Local Government Pension Scheme funds across the UK, today published its Annual Report and Accounts.
Brunel has now transitioned approximately £15 billion of assets from its ten Clients, with the aim of completing the transition of Client assets in 2021. The report also highlights the Partnership’s approach towards responsible and sustainable investing as a key factor in its success to date and its ability to deliver on future objectives.
Laura Chappell, CEO at Brunel Pension Partnership Limited said:
“It has been a pivotal year for Brunel and our focus has been, and remains, on transitioning assets into our pooled funds, delivering value for our Clients through pooling and delivering our responsible investing promises. Our strength is in our continued commitment to walk the extra mile for our Clients.
“It is only two years since our inaugural AGM but the robustness of our investment processes and operational due diligence have started to give us a reputation across the industry as an asset owner that kicks the tyres quite hard. That is a reputation that the excellent team we have built at Brunel can be proud of, and it absolutely fits with our long-term and sustainable approach towards investing for our Clients.”
Other highlights from the year reflected in the report include:
- In partnership with clients: Our client-focused customer service was enhanced by the creation of an Assurance Framework in 2019 to ensure Clients are satisfied with the specification for each portfolio. The Partnership is underpinned by governance such as our Shareholder Group, Brunel Oversight Board meetings, Client Group meetings and by our pro-active consultations on developments such as the Climate Policy.
- Working with external managers: Brunel has engaged with over 130 asset managers since its inception and embedded its long-term investing approach in manager relationships by creating the Brunel Asset Management Accord in 2019. Several manager selection processes were launched throughout the year, including in private markets where a cornerstone $84 million commitment to the Neuberger Berman Private Equity Impact Fund was made on behalf of four of our LGPS Clients. Brunel also invested in new technology such as FactSet which improves efficiency for Clients, reduces operational risk and enhances monitoring of managers.
- Sustainability leadership: Brunel has taken a leadership approach on responsible investment through its deep integration of environmental, social and governance (ESG) factors and with the recent publication of its Climate Policy. Our strategic affiliations include membership of the Sustainability Accounting Standards Board, Investor Advisory Group and Institutional Investors Group on Climate Change. Our Chief Responsible Investment Officer also co-chairs the influential Transition Pathway Initiative on behalf of the Environment Agency Pension Fund. Brunel also promotes responsible investment approaches with other pools as secretariat of the Cross Pool Working Group on responsible investment.
- Engaging our workforce: We pride ourselves on creating an inclusive and diverse culture, and a working environment that promotes flexibility, collaboration and innovation. A staff survey in 2019 indicated that more than 90% of employees are proud to work for Brunel.
The report also thanks former CEO, Dawn Turner, for her work with the Partnership.
-ENDS-
- For more information or to speak with a Brunel spokesperson please contact:
- Alex Monro,. Head of Communications
- T:+44 (0)7483 026453 |e: alex.monro@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 pooled funds and manages the investment of the 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