Plus: Merseyside Pension Fund sets targets to mitigate climate-related transition risk. : According to reports, global bond ETFs had their best quarter on record in the first quarter of 2017 with $44.5bn of inflows The members of the UK’s largest public sector pension asset pool have established a collective private equity investment vehicle, according to one of the funds. The Northern Private Equity Pool (NPEP) will make commitments of around £720m (€805m) in 2018 and 2019, according to the £8.6bn Merseyside Pension Fund.