Wales Pension Fund

About Us

The Wales Pension Partnership (WPP) was established in 2017. The WPP is a collaboration of the eight LGPS funds (Constituent Authorities) covering the whole of Wales and is one of eight national Local Government Pension pools.

We have a long, successful history of collaboration, including examples that pre-date the Government’s pooling initiative. We are proud of our unique identity as a Pool – our Constituent Authorities represent and span the entirety of Wales. Being democratically accountable means we provide the best of strong public sector governance and transparency.

Our operating model is designed to be flexible and deliver value for money. We appointed an external Operator and make use of external advisers to bring best of breed expertise to support the running of the Pool. The Operator is Waystone Management (UK) Limited and they have partnered with Russell Investments to manage the investments and assist in the reduction of investment management costs for all the Constituent Authorities.

We have a clear vision and are in control of the pace we take to ensure we meet our goals.

Latest Notices

Latest News

Wednesday 04 December 2024

Wales Pension Partnership recognised for ESG Innovation

Wales Pension Partnership recognised for ESG Innovation

The Wales Pension Partnership (WPP) is delighted to have been recognised for ESG Innovation, winning this category at the LGC Investment Awards ceremony which was held on 29^th November 2024.

The award reflects the critical importance that the WPP and its constituent authorities continues to place on sustainability issues. It recognises the success of the Sustainable Active Equity Fund, developed and managed in partnership with Waystone Management UK Ltd and Russell Investments, which has grown to become one of the largest sustainable investment funds of its type in the UK.

Launched in July 2023, the fund brings together all eight underlying Authorities within the WPP to invest together sustainably for the first time. Utilising a rigorous research framework and flexible approach to adapt to evolving sustainability themes, the fund offers a solution that aligns with Net Zero climate change goals whilst complementing the existing global equities allocations.

As our implementation partner, Russell Investments brings more than 50 years’ experience of researching and evaluating external managers, utilising both qualitative and quantitative inputs to allow to collaboratively deliver a multi-manager portfolio that both meets today’s needs whilst also being able to meet the sustainable investment requirements of the future.

Commenting, Cllr Elwyn Williams, Chair of WPP’s Joint Governance Committee, said:

“Innovation and collaboration is critical to meet the vital ESG challenges the world faces today. We remain wholly committed to delivering best-in-class investment solutions for the benefit of our members and look forward to working with our partners to further address critical sustainability issues.”

Wales Pension Partnership awards Real Estate Investment contracts

The Wales Pension Partnership (WPP) announces the latest in its series of appointments to facilitate implementation of its Private Markets investment solutions.

The WPP will establish a WPP Real Estate investment proposition built around three pillars

UK Core Real Estate, to take existing pooled fund investments and transition them over time to an open-ended direct property investment portfolio.
International Real Estate, to establish an open-ended investment vehicle investing in funds and direct assets on a global basis.
Local / Impact Real Estate, to develop an investment programme utilising fund investments and direct asset investments in UK Impact strategies, with at least 50% of assets located in Wales.

Following the completion of a rigorous public procurement process, with the support of bfinance and Hymans Robertson, Private Real Estate Investment Managers have been appointed. The appointed managers are:

UK Core Real Estate – Schroders
International Real Estate – CBRE
Impact / Local Real Estate – Schroders

Cllr Elwyn Williams, Chair of the Joint Governance Committee commented:

“These appointments conclude the majority of the private markets investment managers for WPP. Real Estate is a core asset class for the 8 Welsh Constituent Authorities and these managers will provide the investments they need to meet their local strategic asset allocations.”

The Wales Pension Partnership (WPP) comprises the following LGPS funds: Cardiff and Vale of Glamorgan, City and County of Swansea, Clwyd, Dyfed, Greater Gwent (Torfaen), Gwynedd, Powys and Rhondda Cynon Taf.