Let’s get started.
1a. Your name
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1b. The name of the scheme/fund/plan that you represent:
1c. The approximate AUM (£m) of the scheme/fund/plan:
*
The following questions explore your appetite for local investing.
2. Does your Fund already have a local investment strategy in place?
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Choose...
Yes
No
In development
3. On a scale of 1-5, what is your attitude to local investing? 1 being "minimum compliance: we expect to do the minimum required" and 5 being "embrace the opportunity: we want to do more than the bare minimum"
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1
2
3
4
5
Comments about your attitude to invest locally:
3b. What is your current best guess for the amount of local investing that will be allocated within 2-3 years?
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Choose...
0%
0–5%
5%
5–10%
10%
>10%
3c. Which of the following concerns do you have about local investing? (Select all that apply)
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Difficult to implement
Costly to implement
Lack of opportunities
Lack of government clarity
Will lead to increased risk/reduced returns
No relationship with Combined Authority or equivalent*
Lack of confidence in pool capability to implement
Reputational risk
Conflicts of interest
Increased interest from members could create more work for officers
May be labour intensive
No concerns
* “Combined authority or equivalent” could mean Mayoral Combined Authority, Combined County Authority, Corporate Joint Committee or Greater London Authority
3d. Comments about your appetite to invest locally:
Now let’s focus on implementation considerations.
4. How do you expect to define local, from a geographic perspective?
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Investments in the Fund’s administering authority area
Investments in the pool’s authority areas
Investments based in the UK
Mixed: UK-wide with a Fund-area sleeve
Mixed: UK-wide with a pool-area sleeve
Other (please specify)
5. What asset classes do you expect your local investments will fall into?
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Choose...
Primary investments in private markets only
Any private market investments
Any private or public market investments
6. How do you expect to structure your local investments?
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Choose...
As a standalone allocation in the Fund's strategic asset allocation
Embedding local investment within existing asset classes or “buckets”
Not yet decided
6a. When determining risk and return objectives for local investments, do you expect they will be:
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Choose...
Aligned with the Fund's overall requirements
Set at a lower bar to enable greater local impact
6b. How do you expect to access local investments? (Select all that apply)
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Pooled funds
Segregated (discretionary) mandates
Segregated advisory mandates
Direct investments
Other
6c. Comments on implementation:
Consider the Government’s expectation that funds will collaborate with local authorities to do local investing.
7. Does a combined authority or equivalent exist in your area?
*
Choose...
Yes
No
Not sure
7a. How would you prefer to collaborate with local or combined authorities on local investments? (Select all that apply)
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Specific investments or local authority investment fund
General strategic priorities without specific projects
Other (please specify)
7b. Comments on collaboration:
Now on to the due diligence required for effective local investment.
8. How confident are you that pools have the capacity and expertise to scrutinise local investment opportunities?
Choose...
Very confident
Somewhat confident
Neither
Somewhat unconfident
Very unconfident
8a. How do you feel about the government’s suggestion that pools perform due diligence and manage local investments?
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Choose...
Very positive
Positive
Neutral
Negative
Very negative
9. Do you think it’s important that funds have the option to do their own due diligence on local investments?
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Yes
No
Comments on due diligence:
9a. How confident are you in your Fund’s time/capacity to implement local investment?
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Choose...
Very confident
Somewhat confident
Neither
Somewhat unconfident
Very unconfident
9b. How confident are you in your Fund’s skills/knowledge to implement local investment?
*
Choose...
Very confident
Somewhat confident
Neither
Somewhat unconfident
Very unconfident
9c. What would help you have more confidence in implementation?
*
9d. Comments on due diligence or working with pools:
10. How confident do you feel about the requirement to report on your local investment activity?
*
Choose...
Very confident
Somewhat confident
Neither
Somewhat unconfident
Very unconfident
And finally, we’d love to know what you think about the availability of sufficient local investment opportunities.
11. How confident are you that there are sufficient opportunities in your administering authority area?
*
Choose...
Very confident
Somewhat confident
Neither
Somewhat unconfident
Very unconfident
11a. How confident are you that there are sufficient opportunities in your pool area?
*
Choose...
Very confident
Somewhat confident
Neither
Somewhat unconfident
Very unconfident
11c. How confident are you that there are sufficient opportunities in the UK?
*
Choose...
Very confident
Somewhat confident
Neither
Somewhat unconfident
Very unconfident
11d. Comments on the availability of opportunities:
12. Please share any final comments or views
That's it, you're done!
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