On the go: The £6.9bn London Pensions Fund Authority has launched a transparency dashboard in partnership with fintech company Tumelo that displays a breakdown of its equity investments.
The Local Government Pension Scheme fund created the platform in direct response to member queries and a 2021 member survey, which found that many of its 93,000 members wanted more information about how the fund is invested and how it invests responsibly.
The dashboard, which uses Tumelo’s transparency solution, will sit directly on the fund’s corporate website and display individual company names, logos and biographies.
It will be updated quarterly and will allow scheme members to check on the approximately 45 per cent of fund assets that are allocated to equities.
LPFA chief executive Robert Branagh said: “Transparency around how our fund is allocated — particularly within the pooled environment of the LGPS — is important in helping all of us understand how our pensions, our world and our society is interlinked.
“It’s also important that funds making net zero commitments can demonstrate evidence of their transition to a low-carbon future. Transparency around our equity holdings is a first step.”
Branagh added that the pension fund “strives to be a responsible investor and we do play a positive role in society”.
“However, we believe that we can do more, and we hope that this dashboard will start a dialogue with our members about how the fund is invested,” he said.
“This is intentional as engagement with our stakeholders is important in ensuring that the LPFA are listening to the views of those most important to us,” he continued, adding that the fund will also be working with its asset manager, Local Pensions Partnership Investments, to improve how the scheme reports on its responsible investment activity.
This article first appeared on MandateWire.com
