Local authority pension fund investments in an XLS spreadsheet

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Dear Orkney Islands Council,

Under the terms of the Freedom of Information Act I would like to request the following information as an XLS (Microsoft Excel) spreadsheet.

1. List of investments of the local authority pension fund

Please provide a list of the Orkney Island Pension Fund’s investments for the end of the 2015-16 financial year, or if this is not available, the most recently available data, in an XLS spreadsheet.

For each investment, please provide the asset class. For equity investments please include the full name of individual equities, the quantity of each share held, and the total and unit value of each equity.

2. Fund managers

Please provide a list of any external managers and/or advisors employed by the local authority for the purposes of managing pension fund assets, with a copy of the corresponding procurement brief and the total cost of their services for the corresponding financial year.

For your information please note this data is being requested as part of a research project organised by Friends of the Earth Scotland, Friends of the Earth (England, Wales and Northern Ireland), 350.org, Community Re:Invest and Platform London.

Yours faithfully,

Flick Monk
Researcher on Unconventional Fossil Fuels
Friends of the Earth Scotland
(+44) 0131 243 2706

foi, Orkney Islands Council

Dear Madam

Freedom of Information (Scotland) Act 2002 – Request for Information

Thank you for your information request dated 10 November 2016 and received on 11 November 2016. Our reference is FOI 2016-0957. This is being dealt with under the Freedom of Information (Scotland) Act 2002.

We are considering your request. We may be in touch soon to ask for further clarification or to offer advice and assistance if we are not able to fulfil your request in its present form.

The legislation allows us up to 20 working days from the date that we receive a valid request, including any clarification we need to make a final response. We will be in touch within 20 working days of receipt of your initial request to provide our response or to seek clarification where necessary. We hope to give you the information you are looking for at an earlier date if possible.

Kind regards

Katy Russell-Duff
Administrative Officer
Administration Support Team
Corporate Services
Orkney Islands Council, Council Offices, Kirkwall, Orkney, KW15 1NY
Telephone 01856 873535 Extension 2210

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foi, Orkney Islands Council

1 Attachment

Dear Madam

Freedom of Information (Scotland) Act 2002 – Request for Information

I refer to your request for information dated 10 November 2016. Our reference is FOI 2016-0957.

1. List of investments of the local authority pension fund

Please provide a list of the Orkney Island Pension Fund’s investments for the end of the 2015-16 financial year, or if this is not available, the most recently available data, in an XLS spreadsheet.

For each investment, please provide the asset class. For equity investments please include the full name of individual equities, the quantity of each share held, and the total and unit value of each equity.

As attached. We only hold this information in pdf format.

2. Fund managers

Please provide a list of any external managers and/or advisors employed by the local authority for the purposes of managing pension fund assets, with a copy of the corresponding procurement brief and the total cost of their services for the corresponding financial year.

For your information please note this data is being requested as part of a research project organised by Friends of the Earth Scotland, Friends of the Earth (England, Wales and Northern Ireland), 350.org, Community Re:Invest and Platform London.

The External Manager of our Pension Fund is Baillie Gifford and our advisor is Hymans Robertson. We are unable to provide a copy of the corresponding procurement brief as we do not hold one as the company was employed in 1996 when there was no procurement briefs.

We are unable to provide a total of the cost of their services under section 33(1)(b) - Commercial Interests and the Economy. Releasing this information could distort the market and affect the Council's ability to secure best value and so disclosure would not be in the public interest.

You have the right to request a review of the decision if you are not satisfied with the way we have handled your request. Please write to: Head of Legal Services, Corporate Services, Council Offices, School Place, Kirkwall, Orkney, KW15 1NY or email to [Orkney Islands Council request email] to make this request. The law gives you up to 60 working days from when we received your enquiry or 40 working days from when you receive this correspondence, whichever is the later date. Where the outcome of the review fails to resolve the matter to your complete satisfaction you have the right to apply to the Scottish Information Commissioner for a decision.

Kind regards

George Vickers
Information Governance Officer
Corporate Services
Orkney Islands Council, Council Offices, Kirkwall, Orkney, KW15 1NY
Telephone: 01856 873535 Extension: 2162
www.orkney.gov.uk

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