Dear Mr Davies,
 
FREEDOM OF INFORMATION ACT 2000 (FOIA) – REQUEST FOR INFORMATION
 
The City of London (CoL) acknowledges receipt of your request for
information of 17 October 2018.
 
Public authorities are required to respond to requests within the
statutory timescale of 20 working days beginning from the first working
day after they receive a request. The Act does not always require public
authorities to disclose the information which they hold.
 
The FOIA applies to the CoL as a local authority, police authority and
port health authority. The CoL is the local and police authority for the
“Square Mile”, ie the historic City of London, and not for London as a
whole. Please see the following page containing a link to a map (‘Explore
the City’), which shows the local authority area covered by the CoL:
[1]https://www.cityoflondon.gov.uk/maps/Pag....
 
The CoL does have some functions, including Port Health Authority
functions, which extend beyond the City boundary. For further information
please see: [2]www.cityoflondon.gov.uk.
 
Yours sincerely,
 
Information Officer
Comptroller & City Solicitor’s Department
City of London
Tel: 020-7332 1209
[3]www.cityoflondon.gov.uk
 
 
 

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Dear Mr Davies,

FREEDOM OF INFORMATION ACT 2000 (FOIA) - INFORMATION REQUEST

Following your request for information of 17 October 2018 and our
acknowledgment also of 17 October 2018 the City of London (CoL) responds
as follows:

1. What is the most recent available value of the pension fund your
organisation administers? Total investment assets £982.5 million as at 31
March 2018. Please refer to the attached Pension Fund financial statement
for the year ended 31 March 2018 for further details.

2. What is the latest available value of the fund’s directly-held
investment in shares or bonds of the following companies: BAE Systems,
Raytheon, Airbus, Northrop Grumman, Lockheed Martin, Honeywell. None

3. What was the value of these holdings a year before the most recent
valuation given above, or at the most recent previous valuation? Nil

4. What dividend income and/or bond yield did the fund receive from these
investments in the last 12-month period for which records are available?
Nil

4. Does the fund have any other investments in these companies via pooled
investments? What is the value and dividend income from these investments?

The Pension Fund has no direct investments in these companies.
Approximately 95%* of the Pension Fund (total investment assets £982.5
million as at 31 March 2018) is invested in open-ended pooled funds,
allocating capital to public markets. Within these open-ended pooled
funds, as at 31 March 2018 the Pension Fund held the following
investments, which in aggregate represent 0.6% of the Pension Fund’s total
investment assets:

Holding
BAE Systems £0.60M
Raytheon £0.04M
Airbus £5.67M
Northrop Grumman 0
Lockheed Martin 0
Honeywell 0
Total £6.31M

The following amounts were included in investment income received in the
year ending 31 March 2018:

Income
BAE Systems £20.1K
Raytheon £0.3K
Airbus £93.2K
Northrop Grumman 0
Lockheed Martin 0
Honeywell 0
Total £113.6K

*The remaining 5% of the fund is invested in private equity and
infrastructure, across 15 separate funds.

If you have any queries or concerns, please contact me.

If you wish to make a complaint about the way the CoL has managed your
enquiry, please make your complaint in writing to email address:
[1][email address]. For a link to the CoL’s FOI complaints
procedure, please visit the following page:
[2]www.cityoflondon.gov.uk/Feedback, at the end of which is located the
FOI complaints procedure. If, having used the CoL’s FOI Complaints
Procedure, you are still dissatisfied, you may request the Information
Commissioner to investigate. Please contact: Information Commissioner,
Wycliffe House, Water Lane, Wilmslow, Cheshire, SK9 5AF. Telephone:
(01625) 545700.  Website: [3]http://www.ico.org.uk/.

The FOIA applies to the CoL as a local authority, police authority and
port health authority.

The CoL holds the copyright in this communication and attachment. Its
supply does not give a right to re-use in a way that would infringe that
copyright, for example, by making copies, publishing and issuing copies to
the public or to any other person. Brief extracts of any of the material
may be reproduced under the fair dealing provisions of the Copyright,
Designs and Patents Act 1988 (sections 29 and 30) for the purposes of
research for non-commercial purposes, private study, criticism, review and
news reporting, subject to an acknowledgement of the copyright owner.

Yours sincerely

Access to Information Network Representative

Chamberlain's Department

City of London

Tel: 020 7332 1384

Website: [4]www.cityoflondon.gov.uk

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References

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