This is an HTML version of an attachment to the Freedom of Information request 'Tobacco investments held by local authority pension fund'.



  
 
 
 
 
 
  
 
 
 
 
 
 
Rob Davies, The Guardian
 
Via WhatDoTheyKnow.com   
 
 
 
Our Ref: MGLA180418-9760 
 
1 May 2018 
 
 
 
Dear Mr Davis 
 
Thank you for your request for information which the GLA received on 17 April 2018. Your 
request has been dealt with under the Freedom of Information Act 2000.  
 
Please find below the information we hold within the scope of your request. 
 
What is the most recent available value of the local authority's pension fund?  
 
•  The value of the London Pension Fund Authority’s (LPFA) fund at 28 Feb 2018 was 
£5.561bn. 
 
 
What is the value of the fund’s directly-held investment in shares or bonds of the following 
companies: British American Tobacco, Imperial Brands, Japan Tobacco International, Altria 
Group Inc, Philip Morris International, Universal Corp, Alliance One International?  
 
•  The LPFA does not have direct holdings in shares or bonds in these companies. 
  
 
What is the total combined value of the fund’s directly-held investments in the companies 
named above?  
 
•  The LPFA does not have direct holdings in shares or bonds in these companies. 
 
 
What income did the fund receive from these investments in the last 12-month period for which 
records are available?  
 

•  The LPFA does not have direct holdings in shares or bonds in these companies 
 
 
Does the fund have any other investments in tobacco via pooled investments? What is the value 
of these?  
 
•  The LPFA does not directly hold shares or bonds in underlying companies, any 
investment interests in tobacco are via pooled funds.    
 
 

The value of the Fund’s interests in tobacco companies through pooled funds was 
£37.16m at 28 Feb 2018 (0.66% of the Fund).  
 
Additionally, the LPFA has synthetic exposure to equities through investments in index-
based futures. The equivalent interest in tobacco companies via these futures was 
£4.67m at 28 Feb 2018 (0.08% of the Fund) 
 
 
What is the local authority’s annual spend on smoking-related illness?  
 

•  The GLA is London's strategic government and does not operate in the same way as 
local authorities or the NHS. We do not spend any funding on smoking related illness.  
In London you would need to contact the individual local Borough Councils 
(https://www.london.gov.uk/in-my-area)  or Clinical Commissioning Groups  
https://www.england.nhs.uk/ccg-details/ . 
  
 
Please supply the number of deaths attributable to smoking in the local authority areas covered 
by your pension fund. Your Director of Public Health or equivalent should be able to supply this 
figure. 
 

•  The GLA holds some data on smoking, which can be found on the London Datastore, 
but the most recent and detailed data on smoking, including smoking deaths by 
borough, can be found on the Public Health England website at 
https://fingertips.phe.org.uk/profile/tobacco-control  
 
 
If you have any further questions relating to this matter, please contact me, quoting the 
reference MGLA180418-9760. 
 
Yours sincerely  
 
 
 
Ruth Phillips 
Information Governance Officer 
 
If you are unhappy with the way the GLA has handled your request, you may complain using the 
GLA’s FOI complaints and internal review procedure, available at: 
https://www.london.gov.uk/about-us/governance-and-spending/sharing-our-
information/freedom-information