Issue - meetings

Investment and Funding Update

Meeting: 09/02/2022 - Clwyd Pension Fund Committee (Item 41)

41 Investment and Funding Update pdf icon PDF 155 KB

To provide Committee Members with an update of investment and funding matters for the Clwyd Pension Fund.

Additional documents:


The Committee considered and noted the update.


Mrs Fielder introduced this paper and explained that since the Committee agenda pack was distributed, the DLUHC had published the Levelling Up Whitepaper, which outlined proposed expectations for LGPS Funds to have up to 5% of assets allocated to projects, which support local areas. Mrs Fielder explained that this was not new, as the Clwyd Pension Fund had already been supporting local areas for years with over £132 million worth of commitments agreed, which is already over the 5% target. Unfortunately, Mrs Fielder confirmed it was possible that the steps the Fund had previously taken would not be included in this 5% target but we need to wait for the consultation to understand how this will need to be implemented.


            In paragraph 1.05, Mrs Fielder confirmed that the pressure group had moved on from fossil fuels and was now looking at livestock companies.


            As alluded to at the last Committee, the Fund officers and advisers had been investigating more private market opportunities and this was well underway with more commitments outlined in the table in paragraph 1.12. This included Capital Dynamics and more details on this were explained in the next agenda item.


            Regarding the exposure to industrial livestock companies in paragraph 1.05, Councillor Bateman explained he had received correspondence from a constituent who highlighted concerns about this. He asked whether Mrs Fielder was happy to respond to the letter he had received. Mrs Fielder confirmed she would  respond to the request.




The Committee considered and noted the update.