The agenda, reports and minutes of today's meeting of the Strathclyde Pension Fund Committee are now available.
The committee agreed some enhancements to the Fund's Climate Change strategy:
- The Climate Change strategy will have the explicit objective of implementing an investment strategy that is consistent with achieving the goal of global net-zero emissions by 2050; and therefore
- SPF will have a target of net-zero emissions across its own portfolios by 2050
- The Fund will switch its current RAFI Global Allocation to the RAFI Fundamental Climate Transition Index and
- SPF will conduct an assessment of energy sector companies in its portfolios and will disinvest from any that are not meeting minimum standards in relation to the energy transition.
Three new investments from the Fund's Direct Investment Portfolio were approved:
- £30m into SEP VI , the latest fund to be raised by Glasgow-based growth equity managers, Scottish Equity Partners
- £20m into the Clean Growth Fund which will back early stage companies in the clean technology sector and
- £30m into Funding Affordable Homes, a social impact investment company.
The committee approved the (re)appointment of Hymans Robertson as investment consultants and Pinsent Masons for legal services.
The Fund's annual investment return for 2020/21 was +25.1 %.
Fund value as at 30th April was £26.8 billion.
Strathclyde Pension Fund