Dear Bromley Borough Council,

I would like to request the following information:

1) The full details of what real estate assets the Bromley 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

BromleyCorporateCustomerServices,

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Thank you for your email, please be aware that any future FOI requests can
be requested on line via the following link:
www.bromley.gov.uk/FreedomofInformation

 

 

From: Samuel Hall [mailto:[FOI #548664 email]]
Sent: 29 January 2019 12:11
To: FOI requests at Bromley Borough Council
Subject: Freedom of Information request - Property holdings in Pension
Fund

 

Dear Bromley Borough Council,

I would like to request the following information:

1) The full details of what real estate assets the Bromley 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

-------------------------------------------------------------------

Please use this email address for all replies to this request:
[FOI #548664 email]

Is [Bromley Borough Council request email] the wrong address for Freedom of Information
requests to Bromley Borough Council? If so, please contact us using this
form:
[1]https://www.whatdotheyknow.com/change_re...

Disclaimer: This message and any reply that you make will be published on
the internet. Our privacy and copyright policies:
[2]https://www.whatdotheyknow.com/help/offi...

For more detailed guidance on safely disclosing information, read the
latest advice from the ICO:
[3]https://www.whatdotheyknow.com/help/ico-...

Please note that in some cases publication of requests and responses will
be delayed.

If you find this service useful as an FOI officer, please ask your web
manager to link to us from your organisation's FOI page.

show quoted sections

BromleyCorporateCustomerServices,

Dear Mr Hall,

Thank you for your email – your request will be passed to a departmental
coordinator to provide a reply.

By law, the council may take up to 20 working days to provide you with
non-personal information held by the authority.  In some cases, a charge
may apply.  If so, we will contact you to let you know the cost and then
you can decide whether to go ahead with the request or not.  Where charges
apply, the time scales indicated do not take effect until we have received
payment. 

In future, so that your request can be sent direct to the correct
department, please use the following link to submit your request on line –
[1]www.bromley.gov.uk/freedomofinformation

 

 

yours sincerely,

 

Sue

 

Customer Service Centre

Web: [2]www.bromley.gov.uk

Please be aware issues can also be reported online using the following
link [3]http://www.bromley.gov.uk/report

 

From: Samuel Hall [mailto:[FOI #548664 email]]
Sent: 29 January 2019 12:11
To: FOI requests at Bromley Borough Council
Subject: Freedom of Information request - Property holdings in Pension
Fund

 

Dear Bromley Borough Council,

I would like to request the following information:

1) The full details of what real estate assets the Bromley 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

-------------------------------------------------------------------

Please use this email address for all replies to this request:
[FOI #548664 email]

Is [Bromley Borough Council request email] the wrong address for Freedom of Information
requests to Bromley Borough Council? If so, please contact us using this
form:
[4]https://www.whatdotheyknow.com/change_re...

Disclaimer: This message and any reply that you make will be published on
the internet. Our privacy and copyright policies:
[5]https://www.whatdotheyknow.com/help/offi...

For more detailed guidance on safely disclosing information, read the
latest advice from the ICO:
[6]https://www.whatdotheyknow.com/help/ico-...

Please note that in some cases publication of requests and responses will
be delayed.

If you find this service useful as an FOI officer, please ask your web
manager to link to us from your organisation's FOI page.

show quoted sections

Chang-Rogers, Jo-Anne, Bromley Borough Council

1 Attachment

Dear Samuel Hall

 

The London Borough of Bromley has 2 fund managers.

The 2 responses to your FOI are as follows.

 

1.

The Fixed Income and Global Equity portfolios don’t own any real estate
directly. Both own securities whose primary purpose is to invest in real
estate related activities.

Details are enclosed in the attachment above.

 

2.

As at the end January 2019, the London Borough of Bromley held the below
listed real estate securities;

 

75,573 shares in Deutsche Wohnen SE (value £2,873,512)

38,797 shares in Grand City Properties SA (value £734,374)

 

In addition, the scheme holds 3,266 units in Public Storage REIT (value
£527,645)

 

The current dividend yield for each is listed below;

 

Deutsche Wohnen SE – 1.84%

Grand City Properties SA – 2.35%

Public Storage REIT – 3.76%

 

Thanks

 

Jo-Anne

 

 

 

Jo-Anne Chang-Rogers

Principal Accountant

Chief Executive’s Department

London Borough of Bromley

0208 313 4292

[1]www.bromley.gov.uk

 

From: John Carnegie [mailto:[email address]]
Sent: 13 February 2019 12:26
To: Chang-Rogers, Jo-Anne
Cc: Financefreedomofinfortmation (Group)
Subject: RE: FOI request - LBB Pension Fund BG - Our ref 15623

 

Dear Jo-Anne

 

 

Thanks

 

John

 

 

From: Chang-Rogers, Jo-Anne <[email address]>
Sent: 11 February 2019 15:17
To: John Carnegie <[email address]>
Cc: Financefreedomofinfortmation (Group)
<[email address]>
Subject: FOI request - LBB Pension Fund BG - Our ref 15623

 

Dear John

 

Apologies for the delay in picking up this FOI.

 

The London Borough of Bromley (LBB) has received a Freedom Of Information
(FOI) Request – in the email below.

 

If you are not able to assist, please advise me who within Baillie Gifford
I should forward this FOI request to.

 

Please note that councils are required to answer FOIs within specific
timescales.

The 20 working day period for response expires on 04/02/2019.

 

If you think the request will take more than 18 hours to complete, please
let me know as soon as possible.

 

Thanks

 

Jo-Anne

 

 

Jo-Anne Chang-Rogers

Principal Accountant

Chief Executive’s Department

London Borough of Bromley

0208 313 4292

[2]www.bromley.gov.uk

 

 

From: Samuel Hall [[3]mailto:[FOI #548664 email]]
Sent: 29 January 2019 12:11
To: FOI requests at Bromley Borough Council
Subject: Freedom of Information request - Property holdings in Pension
Fund

 

Dear Bromley Borough Council,

I would like to request the following information:

1) The full details of what real estate assets the Bromley 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

-------------------------------------------------------------------

Please use this email address for all replies to this request:
[4][FOI #548664 email]

Is [5][Bromley Borough Council request email] the wrong address for Freedom of Information
requests to Bromley Borough Council? If so, please contact us using this
form:
[6]https://www.whatdotheyknow.com/change_re...

Disclaimer: This message and any reply that you make will be published on
the internet. Our privacy and copyright policies:
[7]https://www.whatdotheyknow.com/help/offi...

For more detailed guidance on safely disclosing information, read the
latest advice from the ICO:
[8]https://www.whatdotheyknow.com/help/ico-...

Please note that in some cases publication of requests and responses will
be delayed.

If you find this service useful as an FOI officer, please ask your web
manager to link to us from your organisation's FOI page.

show quoted sections

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