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The U.K. government’s Fit for the Future reform is reshaping the Local Government Pension Scheme (LGPS) landscape. Larger dedicated investment pools are retrenching governance, oversight and operational capacity to pursue increasingly sophisticated investment strategies to secure more ambitious outcomes. This is a pivotal moment for LGPS investors to reassess where genuine opportunities exist.
One area where increased allocations could merit serious consideration is Emerging Market Debt (EMD). The average LGPS scheme allocates 1% of scheme assets to the asset class, despite attractive risk-adjusted returns, high starting yields, diversification benefits and structural improvements in credit quality and central bank credibility.
Read the paper to learn why EMD may deserve a more prominent role in portfolios, and how LGPS investors can tap into this opportunity.
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