Asset TV studio interview: Brunel CIO explores Mansion House LGPS agenda

Mark Colegate of Asset TV has interviewed David Vickers about the Chancellor’s reform package for LGPS and pooling.

The Chancellor announced the government’s plans in her speech at Mansion House last week, which David attended on behalf of Brunel.

“The actual speech wasn’t particularly radical and the direction of travel remains consistent overall,” said David Vickers, CIO at Brunel, in the video. “Some of the interesting conversations will be around the consultation document in the coming weeks and months.”

The government has published its Pensions Investment Review, which the broader partnership is currently considering. The speech highlighted some significant changes.

New directions?

“There is a concerted move on two points,” said David. “The government would like the pools to be FCA-registered – 5 of the 8 are at the moment – and so they have set a model and Brunel is already that model. There was no talk of mergers of pools or funds – that was important, too.”

“The other element is the move to give the pools more control of asset allocation – using the pools as your principal adviser on SAA or delegating down to them.”

Mark also asked David about spurring significant increased investment in the UK and in UK infrastructure – and whether that ambition was realistic. It is a topic David has already been focused on through representing Brunel on the National Wealth Fund Taskforce.

You can watch the 12-minute interview below or on the Asset TV website.