LifeSight has committed to investing £450 million in the fund initially with the potential for additional investments in the future. The strategy will feature in LifeSight’s core default funds, meaning the vast majority of members will benefit from this investment.
The Schroders Greencoat Global Renewables+ LTAF seeks to provide robust, predictable returns through investment in a diversified portfolio of renewable energy and energy transition-aligned infrastructure assets. The fund targets expected returns slightly above traditional listed equities, offering LifeSight members exposure to high-quality energy transition investments in the UK, Europe, US and other OECD countries.
The fund focuses on renewables such as wind and solar as well as other energy transition infrastructure assets such as large scale batteries, energy efficient heat networks and green hydrogen projects. It has an environmental objective to deliver positive environmental impact through climate change mitigation by supporting the energy transition, which is aligned to LifeSight’s own net zero goal.
Andrew Doyle, Lead Investment adviser for LifeSight, 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.”
Tatiana Zervos, Portfolio Manager for Schroders Greencoat, said: “LifeSight’s investment into Schroders Greencoat Global Renewables+ LTAF marks a significant step forward in the DC market’s efforts to support the transformation of the energy system in the UK and beyond. Schroders Greencoat is dedicated to investing in this critical asset class; these assets not only offer attractive and diversifying returns relative to investments traditionally offered to DC members, but also provide transparent and tangible sustainability benefits, offering DC members the opportunity to play their part in abating carbon emissions, contribute to energy security and help control the costs paid by consumers.”
Torsten Bell, Minister for Pensions, said: “This is 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.”
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