The simple secret behind the UK’s best performing council pension fund

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Financial Times 15h ago

The simple secret behind the UK’s best performing council pension fund - Financial Times

Quick Summary:

Marshall said he had looked at infrastructure “closely” but had chosen not to invest owing to “very high manager fees, very little diversification in comparison to liquid securities markets and limited upside versus existing asset classes in terms of return”.

Half of the fund follows the BlackRock MSCI world index tracker, albeit he has made a carve out in his global equity index exposure to exclude three companies linked to the 2017 devastating Grenfell fire in Kensington and Chelsea.

Over the past decade, the 51-year-old Conservative party councillor and banker has delivered average annual returns of 10.8 per cent for the pensions of workers at Kensington and Chelsea’s council, which provides services to both the wealthiest parts of the UK and neighbourhoods with significant deprivation.