Asset managers signed up to the ’Code of Transparency’ are listed below. The Code is voluntary with LGPS asset managers encouraged to sign up to it to demonstrate their commitment to transparent reporting of costs.

Investment Manager

Manager information

Baillie Gifford Baillie Gifford is an independent asset management company based in Edinburgh.  Founded in 1908 and still structured as a partnership, it manages assets for clients across the world.  This includes active equity, multi asset and fixed income mandates for over 40 LGPS funds, with several relationships exceeding 25 years.
We are delighted to support the Code of Transparency and believe that full cost disclosure will lead to a greater understanding of the investment process, better cost management and improved outcomes for investors.
Contact:  Tom Wright This email address is being protected from spambots. You need JavaScript enabled to view it. or Piers Lowson This email address is being protected from spambots. You need JavaScript enabled to view it. for more details.
Capital International Limited Founded in 1931, Capital Group is an independent employee-owned asset management company. We have managed the assets of UK LGPS clients since our first appointment in 1993 and are proud of our long relationships in the sector.
We are delighted to commit to the Code of Transparency and believe that clear, fair and transparent reporting of costs is a key tenet of our role as stewards of local authority assets. Please contact Stephen Gosztony This email address is being protected from spambots. You need JavaScript enabled to view it. or Louise Barnard This email address is being protected from spambots. You need JavaScript enabled to view it. for more details.  
Legal & General Investment Management (LGIM) Legal & General Investment Management (LGIM) is the investment management arm of Legal & General Group, a FTSE 100 company. LGIM is one of Europe’s largest institutional asset managers and a global investor, with a heritage dating back to 1836.
As the largest manager of local authority assets, LGIM has been working in partnership with local authorities to help meet their needs for over 25 years.
We believe in clear and transparent reporting. LGIM is delighted to commit to the Code of Transparency and support our LGPS clients.
Please contact This email address is being protected from spambots. You need JavaScript enabled to view it. for more details.
Majedie Asset Management Majedie manages active equity portfolios for institutional clients, and has worked with local government pension schemes since 2004. The firm is a supporter of clear and simple reporting and is pleased to adopt the Code of Transparency. Majedie was founded in 2002 and is an independent business. The simple objective is to make money for clients. Ownership of the business is spread widely across staff, ensuring alignment of interests with clients throughout.
Please contact This email address is being protected from spambots. You need JavaScript enabled to view it. for more detail.
Markham Rae Markham Rae is an independent asset management company based in London. The company was founded in 2010 and is structured as a partnership managing assets for clients in the UK, Continental Europe and North America. The company runs three absolute return mandates in discretionary macro fixed income, trade finance and systematic macro. It currently manages money for 8 LGPS funds in two of the strategies. We are pleased to support the Code of Transparency and support our LGPS clients in providing complete transparency.
Contact: Kerry Duffain This email address is being protected from spambots. You need JavaScript enabled to view it. or Peter Davies This email address is being protected from spambots. You need JavaScript enabled to view it. for more details.
Mondrian Investment Partners Ltd Mondrian is an independent, employee-owned, global value-oriented manager with over 25 years’ experience in managing a range of equity and fixed income products for a variety of clients based around the world. Mondrian’s value style products have a track record of producing consistent, strong risk-adjusted performance in a variety of different market environments. We are proud to sign the code and support our LGPS clients.
Please contact This email address is being protected from spambots. You need JavaScript enabled to view it. for more detail.
Montanaro Montanaro was established in 1991 and is based in London. We have the largest and most experienced specialist team in Europe dedicated exclusively to researching and investing in quoted UK and European Small & MidCap companies.  Our long-term “Quality Growth” investment approach is the hallmark of Montanaro. We only invest in the highest quality, well-managed businesses operating in growth markets. Ethical and ESG considerations are fully integrated into our investment process.  Montanaro manages over £2.4 billion on behalf of leading international financial institutions, including pension funds, insurance companies, family offices, wealth managers and charities. We are proud to work with a number of Local Government Pension Schemes such as Devon, Derbyshire, West Yorkshire, East Riding and South Yorkshire County Councils.

To contact us please call +44 20 7448 8600 or email: This email address is being protected from spambots. You need JavaScript enabled to view it. .  Our website can be found at: www.montanaro.co.uk