LGPS Central has launched its new pooled global credit fund, the Global Active Investment Grade Credit ACS Sub-Fund.

The launch is part of the development of LGPS Central’s fixed income offering, with the fund sitting alongside the investment manager’s existing pooled credit funds, expanding its range of options and aiming to provide greater flexibility to access high-quality credit markets.

The fund will be managed in partnership with Capital Group, J.P. Morgan Asset Management, and Neuberger Berman.

LGPS Central already manages an actively managed investment grade credit fund with a significant sterling component, and the new fund has been designed to complement this by providing access to a wider global investment grade universe.

The investment manager said this would give it the ability to tailor credit allocations more precisely to individual partner fund objectives.

Together, the two funds aim to support different portfolio construction requirements, with the additional sub-fund designed to provide greater diversification across global issuers and sectors.

LGPS Central said the availability of both funds would allow the pool to adopt a blended approach within their wider fixed income allocations.

Its new fund will reside in its fixed income framework, with active management set to play a central role.

The fund was developed with engagement from partner funds and responsible investment considerations will be integrated throughout, in line with LGPS Central’s wider approach to stewardship and engagement.

Commenting on the launch, LGPS Central chief investment officer, Jayne Atkinson, said: “By partnering with three experienced global credit managers within a single pooled structure, we are able to combine differentiated active approaches with consistent oversight, scale and governance, while continuing to maintain flexibility in how we access global credit markets on behalf of our partner funds.”

LGPS Central said the launch formed part of its broader work to ensure its pooled investment platform remained capable of meeting the investment needs of partner funds, while maintaining a clear and coherent range of funds that support effective long-term portfolio construction.

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