Lifesight, WTW’s defined contribution (DC) master trust, has committed to investing £450m in the Schroders Greencoat Global Renewables+ Long-Term Asset Fund (LTAF), with the potential for additional investments in the future. 

The Schroders Greencoat Global Renewables+ LTAF aims to provide robust, predictable returns through investment in a diversified portfolio of renewable energy and energy transition-aligned infrastructure assets.

The strategy will feature in LifeSight’s core default funds, meaning that the vast majority of members will benefit from this investment.

Targeting expected returns slightly above traditional listed equities, the fund is expected to provide LifeSight members with exposure to high-quality energy transition investments in the UK, Europe, US, and other Organization for Economic Co-operation and Development (OECD) countries.
 
The fund's environmental objective to deliver positive environmental impact through climate change mitigation by supporting the energy transition is also aligned with LifeSight’s own net-zero goal.

Pensions Minister Torsten Bell, highlighted the investment as a "welcome step" to invest more in infrastructure, especially energy infrastructure projects, since the signing of the Mansion House Accord in May.

"Working together, government and industry will deliver the investment our future prosperity depends on, supporting better outcomes for savers and faster growth for Britain," he said. 
 
This was echoed by Schroders Greencoat portfolio manager, Tatiana Zervos, who held up the investment as a "significant step forward" in the DC market's efforts to support the transformation of the energy system in the UK and beyond.

Adding to this, Lifesight lead investment adviser, Andrew Doyle, said: “We are delighted to make this investment on behalf of our members.

"Our scale as one of the largest master trusts in the UK means we are able to access specialist managers and innovative investments that enhance the portfolios of our members in our core defaults.

"This strategic investment underscores LifeSight's commitment to sustainable and responsible investing, aligning with global efforts to transition to renewable energy sources, with the aim of delivering strong pension outcomes for members.

"It also supports our efforts to invest in UK private markets, which is aligned with the recent Mansion House Accord.”

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