Fixed Income
Five sub-funds have been established for investments within the Fixed Income Asset Class with initial investment value of £2.9bn.
Global Credit Fund
Investment Manager: Russell Investments
Underlying Investment Managers: Western, MetLife, Fidelity and T Rowe Price
Participating Funds: Cardiff, Dyfed, Powys and Torfaen
Portfolio Value: £790m
Launch Date: July 2020
Global Government Bond Fund
Investment Manager: Russell Investments
Underlying Investment Managers: BlueBay and Colchester
Participating Funds: Cardiff and Torfaen
Portfolio Value: £518m
Launch Date: July 2020
Absolute Return Bond Fund
Investment Manager: Russell Investments
Underlying Investment Managers: Wellington, Putnam, Aegon and Insight
Participating Funds: Gwynedd, Powys and Swansea
Portfolio Value: £438m
Launch Date: September 2020
Multi-Asset Credit Fund
Investment Manager: Russell Investments
Underlying Investment Managers: ICG, Man GLG, BlueBay, Barings and Voya
Participating Funds: Cardiff, Clwyd, Gwynedd, Powys and Swansea
Portfolio Value: £598m
Launch Date: July 2020
UK Credit Fund
Investment Manager: Fidelity
Participating Funds: RCT
Portfolio Value: £547m
Launch Date: July 2020