Property holdings in Pension Fund

Samuel Hall made this Freedom of Information request to Lincolnshire County Council

This request has been closed to new correspondence from the public body. Contact us if you think it ought be re-opened.

The request was successful.

Dear Lincolnshire County Council,

I would like to request the following information:

1) The full details of what real estate assets the Lincolnshire Pension Fund currently invests in, including the name and amounts of each type of real estate asset or investment being held.

This information should be broken down into the different
categories, including:
- Listed Real Estate securities;
Unlisted/Private Real Estate Property Funds/vehicles, companies or CIS;
- Directly held properties ; and
- (listed/unlisted) Real Estate Debt Funds/vehicles.

In the case of any unlisted real estate vehicles or real estate debt vehicles, the domicile of the underlying assets should be included.

A full list of all the companies, vehicles, CIS etc in which the Pension Fund invests in or has an outstanding commitment to should be covered in the above question. This list should include the names of each company and the amount invested in each company etc.

2) The current yields of the different investments the pension fund holds.

3) Can you clearly specify the total value of all real estate investments that the Pension Fund holds.

4) I would like to receive this information in an unlocked excel sheet without protected cells (.xls). If you have to password protect the excel sheet, please can you also provide the password to the excel
sheet.
5) Please supply a copy of the Pension Scheme’s latest Statement of Investment Principles and most recent Pension Fund Report & Accounts.
I would like to receive the information in electronic format if possible. If one part of the request can be answered sooner than others, please send that information first followed by any subsequent data. If you need further clarification, please contact me by email.

Many public authorities release their contracts, minutes and other information of interactions with private vendors in line with the Freedom of Information Act. The exemption for commercial interest
under the Act (section 43) is a qualified exemption, which means information can only be withheld if it is in the public's interest.
The public have an interest in knowing what the Pension Fund is investing in, the terms of contracts and the minutes of meeting with public authorities, whether or not public money changes hands immediately.

If you are relying on section 41 (the exemption for legal breach of confidence) then I would like to know the following:

* When these confidentially agreements were agreed
* All correspondence and email in which these confidentiality agreements were discussed
* The precise wording of the confidentiality agreements.

I ask these questions because guidance issued by both the Lord Chancellor (draft guidance on FOI implementation) and the Office of Government Commerce (Model terms and conditions for goods and services) specifically state that public authorities should not enter into these types of agreements; they go directly against the spirit of the laws of disclosure. I would also point to the
Information Commissioner's guidance on accepting blanket commercial confidentiality agreements: 'Unless confidentiality clauses are necessary or reasonable, there is a real risk that, in the event of
a complaint, the Commissioner would order disclosure in any case.'(i)

Finally, within the law of confidence there is also a public interest test. Therefore, the information should be disclosed in full. If any parts are redacted they must be for information that can be proven to be a legal breach of confidence in court, and only then where secrecy can be shown to be in the public interest. These are difficult positions to argue when public money is at stake or where a public authority is offering a private company a monopoly to charge its stakeholders.

I reserve the right to appeal your decision to withhold any information or to charge excessive fees, and understand that under the act, I am entitled to a response within 20 working days. I would be grateful if you could confirm in writing that you have received this request.

Yours faithfully,

Samuel Hall

FOI, Lincolnshire County Council

2 Attachments

[1]cid:image003.jpg@01D06D45.E26D2880

 

 

 

 

 

 

 

Freedom of Information
Customer Service Centre
2^nd Floor

Thomas Parker House

13/14 Silver Street
Lincoln
LN2 1DY
Tel: 01522 782187
[2][email address]

[3]www.lincolnshire.gov.uk

                                               

24^th January 2019

 

Dear Samuel Hall

 

Freedom of Information Reference: 50008509FOI

 

Subject: Property holdings in Pension Fund

 

Thank you for your recent request for information received by this office
on 24^th January 2019. Your request is being dealt with under the terms of
the Freedom of Information Act 2000. 

 

We will aim to respond to your request, notifying you whether or not the
information requested is held by Lincolnshire County Council and
communicating that information to you (provided that the information is
not exempt under the terms of the Act), within 20 working days from the
day after your request was received.

 

We may reasonably require further information from you in order to
identify and locate the information requested. If this is the case we will
contact you in due course.

 

In some circumstances a fee may be payable and if that is the case, we
will let you know. A fees notice will be issued to you, and you will be
required to pay before we will proceed to deal with your request.

 

If you have any queries about this letter, please contact us. Please
remember to quote the reference number above in any future communications.

 

Yours sincerely,

 

 

David Coulson
Freedom of Information
Customer Service Centre

[4][email address]

 

 

The information we have supplied to you may contain intellectual property
rights of Lincolnshire County Council. Your use of the information must be
strictly in accordance with the Copyright Designs and Patents Act 1988 (as
amended), or other applicable legislation. In particular, you must not
re-use this information for any commercial purpose.

If you would like to re-use this information for any commercial purpose
you must make a formal request to us under the Re-Use of Public Sector
Information Regulations 2005.  Please email us at
[5][email address]

 

 

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FOI, Lincolnshire County Council

5 Attachments

[1]cid:image003.jpg@01D06D45.E26D2880

 

 

 

 

 

 

 

 

Freedom of Information
Customer Service Centre
2^nd Floor

Thomas Parker House

13/14 Silver Street
Lincoln
LN2 1DY
Tel: 01522 782187
[2][email address]

[3]www.lincolnshire.gov.uk

 

 

31^st January 2019

 

Dear Samuel Hall

 

Freedom of Information Reference:  50008509FOI

 

Subject: Request for information.

 

Please find our response to your request below:

 

Request

 

I would like to request the following information:

 

1) The full details of what real estate assets the Lincolnshire Pension
Fund currently invests in, including the name and amounts of each type of
real estate asset or investment being held.

 

This information should be broken down into the different categories,
including:

 

·         Listed Real Estate securities;

Unlisted/Private Real Estate Property Funds/vehicles, companies or CIS;

·         Directly held properties ; and

·         (listed/unlisted) Real Estate Debt Funds/vehicles.

 

In the case of any unlisted real estate vehicles or real estate debt
vehicles, the domicile of the underlying assets should be included.

 

A full list of all the companies, vehicles, CIS etc in which the Pension
Fund invests in or has an outstanding commitment to should be covered in
the above question. This list should include the names of each company and
the amount invested in each company etc.

 

2) The current yields of the different investments the pension fund holds.

 

3) Can you clearly specify the total value of all real estate investments
that the Pension Fund holds.

 

4) I would like to receive this information in an unlocked excel sheet
without protected cells (.xls). If you have to password protect the excel
sheet, please can you also provide the password to the excel sheet.

 

5) Please supply a copy of the Pension Scheme’s latest Statement of
Investment Principles and most recent Pension Fund Report & Accounts.

 

I would like to receive the information in electronic format if possible.
If one part of the request can be answered sooner than others, please send
that information first followed by any subsequent data. If you need
further clarification, please contact me by email.

 

 

Response

 

Please see attached

 

Lincolnshire County Council believes that the response outlined above
satisfies your request for information under the Freedom of Information
Act and that all information that can be made available to you has been
provided.

 

You are entitled to an internal review of the administration of your
request. You can request an internal review by contacting
[4][email address]. Should you remain dissatisfied following the
outcome of the review you can submit a formal complaint to the Information
Commissioner's Office. Further information can be obtained from their
website [5]www.ico.org.uk.

 

Once again, thank you for your enquiry.

 

Yours sincerely

 

 

David Coulson

Freedom of Information

On behalf of Lincolnshire County Council

[6][email address]

 

The information we have supplied to you may contain intellectual property
rights of Lincolnshire County Council. Your use of the information must be
strictly in accordance with the Copyright Designs and Patents Act 1988 (as
amended), or other applicable legislation. In particular, you must not
re-use this information for any commercial purpose. If you would like to
re-use this information for any commercial purpose you must make a formal
request to us under the Re-Use of Public Sector Information Regulations
2005.  Please email us at [7][email address]

 

 

 

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