In November, the Government consulted on small changes to the LGPS investment regulations. These proposals would allow funds to continue diversifying their assets and invest in key areas such as UK infrastructure. The NAPF response (below?) recommends that the Government ‘increase the limit on investments in partnerships from 15% of a local authority pension fund to 30%’. We also reiterated our call for wider reform of the investment regulations to make them more principles-based, bringing them into line with the regulations that cover private sector pension fund investments.

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