Mantle Services has launched a digital administration services solution for the Isle of Man Public Sector Pensions Authority Schemes.

After a procurement process in June 2023, Mantle Services was appointed by the Public Sector Pensions Authority (PSPA) to provide pension administration software. The new software will allow the PSPA to provide more efficient and cost-effective administration services to its pension scheme members. It was chosen due to its ability to drive operational efficiencies, and due to the functionality of its software which fully automates pension administration processes. The launch follows a testing period to ensure that it met all the requirements of a statutory scheme administrator. The software will provide the PSPA with fully automated benefit calculations, pension administration solutions, enhanced payroll capabilities, post and mailbox processing functionality, and a self-service member engagement platform. Mantle are also set to deploy My Pocket Pension within the next year as the second phase of the project, allowing PSPA members to access benefit estimates via a mobile app.

Border to Coast Partnership has announced the launch of £1.2bn UK real estate fund.

Three partner funds, Tyne and Wear Pension Fund, Cumbria Pension Fund, and South Yorkshire Pensions Authority, have collaborated to pool 65 existing holdings to seed the proposition at launch. Burges Salmon advised Border to Coast Pensions Partnership on this launch, advising on a number of aspects including real estate, funds structuring and tax. The proposition aim to offer cost-effective access to high-quality assets and real estate sectors, diversifying risk, and strengthening the implementation of responsible investment for partner funds. The properties at launch will include offices, retail, care homes, student accommodation, and industrial and warehouse facilities across 26 UK counties. The proposition is expected to more than double in size to £3bn in the next five years and support greater Local Government Pension Scheme investment into the UK. To date, partner funds, through Border to Coast investment vehicles, have invested more than £10bn in the UK via private and listed markets.

TPT Investment Management (TPTIM) has completed the launch of a £800m Liquid Alternatives Fund for pension schemes.

This collective investment vehicle for UK pension schemes is seeded with capital from TPT’s defined benefit (DB) master trust. The fund will provide UK schemes access to a wide range of liquid alternative investment opportunities across credit and equity markets. This is the fourth and largest fund launch for TPTIM of its seven planned launches. The collective investment vehicles will enable pension schemes joining TPT to immediately achieve scale benefits across asset classes by aggregating with the assets in the master trust. Schemes can invest in the new fund through TPTIM’s fiduciary management service.

M&G has launched its first sustainable corporate bond strategy in collaboration with ResponsAbility, which was acquired by M&G in 2022.

The M&G (Lux) responsAbility Sustainable Solutions Bond Fund, classified as Article 9 under sustainable finance disclosure regulation, was designed following engagement with institutional and wholesale investors seeking sustainable active fixed-income strategies. The team will follow a fundamental credit strategy, constructing a diversified portfolio of actively selected global investment-grade bonds to drive positive change in six distinctive areas. These include better health, better work & education, social inclusion, circular economy, environmental solutions, and climate action. Investments will be mapped to the UN sustainable development goals (SDG) according to their contributions. The bonds in the portfolio will be project financing bonds or solution-provider businesses. The fund will be co-managed by Mario Eisenegger and Ben Lord and ResponsAbility will act as investment adviser. ResponsAbility will also be a voting member of M&G’s independent Impact, SDG & Solutions Committee.

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