BlackRock sets up team for local government pension schemes

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THE world’s largest asset manager, BlackRock, has set up a special team to service growing demand from its local government pension schemes (LGPS) clients.

The BlackRock Local Authority team will have a core team of five and be led by Christopher Head.

“The challenges facing local government pension schemes are perhaps greater than ever,” said Mr Head.

“The combination of changing economic and policy environments will have a significant impact on how local government schemes are administered and governed as well as how investment strategies are determined within the current regulatory framework.

“Our focused team is a reflection of our commitment to support our LGPS clients with custom products and investment solutions to meet their growing needs.”

Among the economic challenges facing pension schemes are the prolonged low-yield environment, which is hampering their ability to fund future pensioner payouts, and the impact of pension reform changes on budgeting, governance, investment decisions and administration, the statement said.

BlackRock provides investment management services for 73 LGPS, including the West Yorkshire Pension Fund.