Lambeth Pension Fund is set to provide a comprehensive list of all its investments and voting records, following a request from the Pensions Committee. The move aims to enhance transparency and accountability regarding the fund's holdings.

The committee requested a comprehensive list of all companies the fund is invested in, and a list of how holdings have voted, particularly on controversial matters. Officers confirmed that this information is available on the portal and can be shared, with the intention to communicate this to the committee. While an exact timeline was not specified, the list was requested for the next meeting if possible.

Bar chart showing the one-year performance of the Lambeth Pension Fund across various asset classes, comparing Sterling Return and Local Currency Return as of 31 March 2026.
Bar chart showing the one-year performance of the Lambeth Pension Fund across various asset classes, comparing Sterling Return and Local Currency Return as of 31 March 2026.Source: Pensions Committee papers, 29 July 2026

Councillor Peter Woodward questioned the fund's exposure to conflict zones, particularly in relation to the Iran conflict and its impact on oil prices and defence manufacturers. He also raised concerns about the fund's investment in what he described as illegal settlements in the West Bank of Palestine, urging the committee to reverse previous decisions. Councillor Alan Andrews echoed concerns about the moral and ethical implications and significant risks arising from certain investments.

The committee is concerned about the potential reputational damage associated with investments in 'illegal settlements' in the West Bank. Councillor Andrews also highlighted 'significant risks' arising from such investments, though the specific financial risks were not detailed. Officers confirmed that the risk register would be updated to take into account new regulations and member comments. Discussions also touched upon climate change risks and the need to update the investment strategy and responsible investment strategy in light of new statutory guidance.

The investment performance review for the quarter ending 31 March 2026 indicates the following asset allocation: LDI (11.2%), Global Equity (37.5%), Emerging Market Equity (8.2%), Property (1.4%), UK Private Rented Sector Property (1.6%), Multi-Asset Credit (18.8%), Private Debt (7.5%), Corporate Bonds (4.3%), and Cash (5.7%). The report also notes an overweight to global equities and cash, and an underweight to property and private equity. The UK exposure within existing mandates as of 31 March 2026 was approximately 23.1% or £447.6m.

Bar chart showing the three-year performance of the Lambeth Pension Fund across various asset classes, comparing Sterling Return and Local Currency Return.
Bar chart showing the three-year performance of the Lambeth Pension Fund across various asset classes, comparing Sterling Return and Local Currency Return.Source: Pensions Committee papers, 29 July 2026

Further details on the fund's performance and composition can be found in the Public reports pack for the Pensions Committee meeting on Wednesday 29 July 2026 Public reports pack Wednesday 29-Jul-2026 18.30 Pensions Committee.

Agenda frontsheet Wednesday 29-Jul-2026 18.30 Pensions Committee