As we continue to respond to pensions reform and Government ambitions for pooling, we are strengthening our client-facing capabilities. To ensure we remain well positioned to deliver high-quality, tailored support to each of our Partner Funds, we are beginning the recruitment process for two Client Portfolio Managers.
Based in Wolverhampton. This role plays a critical part in the development and implementation of our investment delegation services, in alignment with the government's "Fit for Future" agenda.
The successful candidate will take lead responsibility for implementing the total Fund portfolio for 2-4 Partner Funds in line with the Investment Management Agreement (IMA), including the management of all cashflows. It's important to note that the underlying implementation of manager and stock selection will be delegated to other Central investment teams.
The role will work closely with Partner Fund Client Directors, as well as Central's Operations and Investment teams across both private and public markets. This is an exciting opportunities to join the centre of a £45bn pension pool (set to grow significantly by March 2026), working directly with our Partner Funds across both public and private markets.
What you'll be doing:
As our
Client Portfolio Managers, you'll be right at the heart of delivering an exceptional experience to our clients. Here's a flavour of what you'll get involved in:
Initial phase
- Developing and implementing our business plan to enable Central to take on greater delegated implementation in line with government proposals and legislation. Including:
- Designing Central's total portfolio management service for Partner Funds.
- Assistance designing investment schedules of IMA.
- Assisting with procurement of systems, for example total portfolio management system with appropriate data inputs.
- Assisting with recruitment of appropriate people.
- Designing asset class building blocks.
- Help with building relationships with Partner Funds.
- Working with Client Directors and others and internally to agree project plan for onboarding Partner Funds ahead of government deadlines.
- Working alongside external support, such as investment consultants or third-party oversight.
Ongoing
- Responsible for building and managing the overall strategy of 2-4 Partner Funds. With underlying implementation (eg manager or stock selection) likely delegated to Central building blocks and investment teams. Including:
- Working with client director and client to agree investment guidelines of IMA.
- Ensuring ongoing compliance with IMA investment guidelines and reporting & rectifying any breaches appropriately.
- Ensure portfolios reflect Central's house views in a consistent and timely manner.
- Rebalancing and/or tactical asset allocation in line with Partner Fund guidelines.
- Managing all cashflows including investment income and private market distributions, making private market commitments, investing Partner Fund contributions and meeting Partner Fund distribution requests.
- Modelling cashflows.
- Planning and implementing transitions and trades and execute trades and drafting client instruction letters where required.
- You will look for improvements and efficiencies in the way we work.
- You will work with Partner Funds, Client Directors and the investment teams to help ensure Central's building blocks are aligned with Partner Fund needs.
- You will work with internal forums to develop Central's best investment ideas.
- You will likely meet with Partner Funds, including on occasion the Pensions Committee.
- You will also likely meet with third-party evaluators to explain our way of working.
About Us
LGPS Central (LGPSC) Ltd is the FCA-regulated asset manager for eight local authority pension funds across the Midlands. LGPSC is jointly owned on an equal shares basis by those Partner Fund, and it is responsible for managing £45bn+ of their assets. It is one of eight Local Government Pension Scheme (LGPS) asset pools in the UK.
LGPS Central's Partner Funds are:
- Cheshire Pension Fund
- Derbyshire Pension Fund
- Leicestershire Pension Fund
- Nottinghamshire Pension Fund
- Shropshire Pension Fund
- Staffordshire Pension Fund
- West Midlands Pension Fund
- Worcestershire Pension Fund
The Company is committed to responsible investment and has made responsible investment a core part of the investment process in every asset class.
LGPS Central offers a friendly and diverse, hybrid-working environment with a range of employee benefits. The Company moved to new premises at i9, Wolverhampton Interchange in January 2022, close to local transport links.
Our objective is to be a leading investment management company working with and for our Partner Funds. With a focus on value for money and performance we want to aspire to be one of the best because this is how we will deliver the superior investment returns and low costs for our Partner Funds.
Requirements
- Institutional Investment Expertise: Proven experience in OCIO, fiduciary, or multi-asset management within asset managers, consultants, or institutional investors, with knowledge of both public and private markets and ideally some exposure to LGPS.
- Project & Stakeholder Management: Skilled in leading cross-functional projects and collaborating with senior management, investment teams, and external service providers.
- Technical Systems Proficiency: Strong understanding of portfolio management systems (e.g. Aladdin, Simcorp, Charles River) and data providers, plus experience with back/middle office functions.
- Portfolio & Transition Management: Expertise in managing complex investment portfolios, transitions, multi-asset trading, and cashflows across public and private markets.
- Regulatory & Structural Knowledge: Good grasp of UK investment regulations, pension schemes (ideally LGPS), and investment structures including pooled (e.g. ACS) and segregated vehicles.
- Analytical & Communication Skills: Strong numerical and analytical ability, with the confidence to explain complex investment matters and support decision-making effectively.
- People & Relationship Skills: Personable, articulate, and credible, with the ability to build strong relationships, influence stakeholders, and contribute positively in team settings.
- Ethical Standards & ESG Focus: Committed to high ethical conduct with a robust understanding of ESG principles and their integration into investment decisions
Qualifications:
- Bachelor's Degree - Required
- CFA - Preferred
- IMC - Preferred
- Has or can meet all the requirements of being an FCA approved person
What do we offer?
We are proud to provide our people with a premium and exclusive benefits package and we are continually improving the rewards we offer. Here are a few of the valuable rewards that you will enjoy:
- Competitive salary
- An enhanced and generous Pension Scheme
- 30 days' paid holiday plus bank holidays
- 2 days paid volunteering days
- An extra paid Company Day in addition to paid holidays
- Excellent Learning & Development Opportunities
- Welfare and Family-friendly policies
- Enhanced pay for new parents
- Access to our Employee Assistance Programme - 24-7 Health & Wellbeing Support
- Vitality Private Medical Insurance
- Hybrid Working
- Company Service Awards
- Cycle to Work Scheme
- Company Electric Vehicle Scheme
- Nominees of the Family Friendly Employer of the Year 2022 - Personnel Today Awards 2022
- Winner of the Cultural Awareness Initiative of the Year - FT Advisors Diversity in Finance Awards 2023
- Winner of Diversity and Inclusion Award - LAPF In Investments Award 2023
