The new initiative for local government pension schemes (LGPS) to pool their assets creating ‘collective portfolios’ in different asset classes has much to commend it, but it is likely to be a complex process for real estate assets. As Global Indirect Real Estate Senior Fund Manager Alistair Dryer explains, there are a number of likely benefits to the idea, but local government schemes need to ensure that they do not ignore the fundamentals in the drive to reduce costs.

 

 

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