Lancashire Pension Fund investment policies and fund management brief
Dear Lancashire County Council,
Recently the Guardian released information regarding the fossil
fuel exposure of the 101 LGPS pension funds to fossil fuel
investments
http://www.theguardian.com/environment/2...
Lancashire was identified as having the lowest
fossil fuel exposures of the various local government pension
funds.
We are interested in understanding why Lancashire's
fossil fuel exposure (1.9%) is lower than the average fossil fuel
exposure (6%) and therefore request copies of the current
investment/ fund management brief (covering 2013/14 and 2014/ 15
financial years) governing management of the pension fund by
internal and external asset managers.
Copies of current investment policies such as environmental and
social governance (ESG) and ethical investment policies which shape
investment of the pension fund are also of interest.
Please also confirm how and when council will next review its fund
management arrangements, and the standard procedure for reviewing/
amending the contract terms.
Yours faithfully,
Joel M Benjamin
Dear Mr Benjamin,
Request for information under the Freedom of Information Act 2000
I am writing to acknowledge receipt of your email dated 05/10/15, in which
you request the disclosure of information under the provisions of the
above Act.
I can confirm that your enquiry will now be assigned to an officer who
will commence a search for the information you require and they will
respond in due course. The deadline date for issuing you with full
response is 02/11/15. We will endeavour to provide a response well in
advance of this date, however, should we envisage any delays, or require
more details from you, we will contact you immediately.
If you have any queries about the above, please do not hesitate to contact
us, quoting ref. 876.1208
Yours sincerely,
Information Governance Team
Lancashire County Council
Tel. 01772 531116
[1]www.lancashire.gov.uk
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Dear Mr Benjamin,
Request for information under the Freedom of Information Act 2000
Further to your email dated 5^th October, in which you request the
disclosure of information under the provisions of the above Act, we are
now in a position to respond.
Recently the Guardian released information regarding the fossil fuel
exposure of the 101 LGPS pension funds to fossil fuel investments
[1]http://www.theguardian.com/environment/2...
Lancashire was identified as having the lowest fossil fuel exposures of
the various local government pension funds.
We are interested in understanding why Lancashire's fossil fuel exposure
(1.9%) is lower than the average fossil fuel exposure (6%) and therefore
request copies of the current investment/ fund management brief (covering
2013/14 and 2014/ 15 financial years) governing management of the pension
fund by internal and external asset managers.
Copies of current investment policies such as environmental and social
governance (ESG) and ethical investment policies which shape investment of
the pension fund are also of interest.
Please also confirm how and when council will next review its fund
management arrangements, and the standard procedure for reviewing/
amending the contract terms.
Please find the attached documents and the detail below in response to
your request for information.
As referenced within the attached letter, the Lancashire County Pension
Fund makes policy documents available via its website
[2]http://www.yourpensionservice.org.uk/loc...
The Governance Policy Statement and the Statement of Investment Principles
(attached) provide detailed information on our stewardship arrangements
and investment approach.
The Fund doesn't place timescales/end-dates on mandates with external Fund
Managers. Tenures ultimately reflect the requirements of the underlying
investment strategy and will begin/end/change as required to meet the
needs of the investment approach set out in the SIP.
The performance of each Fund Manager is monitored on a regular (ongoing)
basis with arrangements providing for annual review meetings which support
more detailed discussions.
I trust that my response is to your satisfaction.
Your request will now be closed as of this date.
Yours sincerely
Mr A Martin
Access to Information Officer
Information Governance Team
Lancashire County Council
PO Box 78
County Hall
Preston
PR1 8XJ
Tel: (01772) 531116
Email: [3][Lancashire County Council request email]
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