The South Yorkshire Pensions Authority has invested £7.5mn in Augmentum Fintech’s investment trust.
In Brief:
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This means a 4.99% stake in the £150mn fund.
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The fund launched in 2018 and included Tide and Monese in its portfolio.
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South Yorkshire Pensions Authority invests on behalf of local councils and other public services.
What does this mean?
It is interesting to see the pension fund which has been around for 46 years deciding to get involved in FinTech – for good reason, since Augmentum Fintech has returned 27% since 2018. Perhaps in coming years more of the £9bn assets managed by the fund will be invested in FinTech.
Read more here.
