Head of Fixed Income Join LGPS Central at a pivotal moment—where investment meets long‑term impact. Join LGPS Central at an important stage in our growth as we strengthen our investment platform in line with the government's Fit for the Future agenda. We strengthen our investment leadership as part of a wider re‑organisation of our investment functions and are recruiting a Head of Fixed Income.
This senior role will set the strategic direction for Fixed Income, continue to develop a high‑performing team, and ensure our portfolios deliver strong, sustainable outcomes for Partner Funds. You will help shape investment culture, portfolio construction, and responsible investment integration.
Responsibilities
Lead the Fixed Income offering and ensure that it is fit for purpose.
Periodically review the range of fixed‑income assets offered and produce business cases for change where appropriate.
Drive forward the performance of the Fixed Income offering.
Periodically review the insourcing/outsourcing of fixed‑income assets.
Deliver the shared objectives of LGPS Central Limited and our partner funds focused on improving risk‑adjusted return after cost and the launch of pooled sub‑funds.
Manage and improve investment capability and skills of the Fixed Income Markets team.
Integrate and maintain the house view on Responsible Investment into the investment process and culture.
Be an ambassador for LGPS Central Limited within the investment community, partner funds, and with regulators and key stakeholders.
Member of the Investment Committee (IC) approving recommendations for new products, product changes and retiring of our offering across all asset classes.
Provide assurance that portfolios are managed within the parameters set in the Prospectus/ Segregated mandates.
In conjunction with the CIO, and other "Heads of" and Investment Directors, devise and deliver a transparent and repeatable investment process that follows the LGPS Central Limited policies.
Work with the CIO to support the relevant aspects of the business strategy.
Implement and manage risk and compliance in accordance with the Risk and Compliance Framework in collaboration with the Chief Compliance, Legal Risk and Governance Officer.
Embed a culture of high performing, collaborative, research‑based investing across LGPS Central Limited.
Embark on an appropriate first line of defence control framework within the Investment Team.
Oversee and manage the existing and new Fixed Income portfolios working with the Investment Directors, Senior Portfolio Managers, Portfolio Managers and others.
Responsibility for origination, analysis, due diligence (both on and offline), legal review and negotiation, execution, and post‑execution active monitoring and management of ACS and Segregated Fund Investments.
Work with the Finance and Operations teams to ensure capital and expense calls, distributions, and investment/fund related expenses are efficiently processed.
Review and analyse ESG risks for any ACS and Segregated Fixed Income Market Funds.
Actively monitor, manage, and advise on the Fixed Income market portfolios of Partner Funds, advising on consolidations, secondary sales, and attending external manager meetings, annual investor meetings, and ad‑hoc calls/meetings with external managers.
Represent LGPS Central Pool portfolio interests on investor advisory boards of external funds.
Lead on the development and launch of future LGPS Central Fixed Income Markets Funds, negotiating requirements with investors, specifying mandates, developing business cases, and overseeing legal set‑up, IT systems, and controls.
About Us LGPS Central (LGPSC) Ltd is the FCA‑regulated asset manager for eight local authority pension funds across the Midlands. LGPSC manages over £45bn of assets on behalf of its partner funds and is jointly owned on an equal‑share basis by those funds. It is one of eight LGPS asset pools in the UK.
Our partner funds include:
Cheshire Pension Fund
Derbyshire Pension Fund
Leicestershire Pension Fund
Nottinghamshire Pension Fund
Shropshire Pension Fund
Staffordshire Pension Fund
West Midlands Pension Fund
Worcestershire Pension Fund
The Company is committed to responsible investment and has integrated it into the core investment process across all asset classes.
We offer a hybrid working environment, a range of employee benefits, and a supportive culture across a friendly and diverse workplace.
Requirements
Significant experience of investment decision making in Fixed Income Markets.
Significant experience of insourcing the management of FI assets, across a range of FI assets.
Demonstrated portfolio construction and investment selection skills.
Experience of management and oversight of investment portfolios.
Has run and developed high‑performing teams.
High degree of professional ethics, integrity and gravitas.
Excellent judgement and analytical skills.
First class interpersonal, people management and communication skills.
Well‑developed relationship partnering skills, including building and demonstrating personal credibility.
Inspirational leadership of the broader team.
Ability to reflect on feedback, support continuous improvement and thought leadership.
Ability and confidence to draw out and effectively manage conflict or challenge.
Substantial relevant experience of collaborative investment decision making and portfolio management at a senior level.
Can evaluate performance and risk of investment portfolios objectively.
Experience of management and oversight of internal and external investment portfolios across multiple asset classes.
Qualifications
CFA or equivalent qualification / relevant investment experience.
Preferably degree level or equivalent in a relevant discipline.
Must meet all the requirements of an FCA approved person.
Benefits
Competitive salary
Enhanced and generous Pension Scheme
30 days’ paid holiday plus bank holidays
2 days paid volunteering days
Additional paid Company Day in addition to paid holidays
Excellent Learning & Development Opportunities
Welfare and Family‑friendly policies
Enhanced pay for new parents
Access to an Employee Assistance Programme and 24/7 Health & Wellbeing Support
Vitality Private Medical Insurance
Hybrid Working
Company Service Awards
Cycle to Work Scheme
Company Electric Vehicle Scheme
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