LGPS funds urged to consider investment portfolios’ Russian exposure

Local Government Pension Scheme (LGPS) funds have been urged to consider the potential implications of the Russian invasion of Ukraine on their investment portfolios.

In an update on its website, the Scheme Advisory Board for England and Wales called on funds in the LGPS to discuss with their asset managers and pools what action should “prudently” be taken.

The events in Ukraine and potential sanctions by the UK government were specified as reasons to assess portfolio exposure to Russian assets.

The board stated: “In the light of events in Ukraine and resultant extant, and potential sanctions by the UK government, any LGPS funds who are not already doing so are advised to consider the implications for their investment portfolios and discuss with their pools and asset managers what action should prudently be taken.”

Other pension schemes in the UK have already been taking action on their portfolios' exposure to Russian investments.

Speaking to BBC Radio 4’s Today programme, Universities Superannuation Scheme chief executive, Simon Pilcher, said that the scheme was looking to offload the £450m of assets linked to Russia that it is invested in.

According to Pilcher, the scheme had already sold off around half of the Russian-linked investments in its portfolio.

    Share Story:

Recent Stories

Making pension engagement enjoyable through technology
Laura Blows speaks to Nick Hall, business development director and Chartered Financial Planner at UK-based Wealth Wizards about the opportunities that technology provides for increasing people’s engagement with pensions and increasing their retirement wealth.

ESG & DC – creating the right tools
In the latest of our series of Pensions Age video inteviews Francesca Fabrizi, Editor in Chief of Pensions Age is joined by Manuela Sperandeo, Head of Sustainable Indexing EMEA, BlackRock and Mark Guirey, Executive Director, Asset Owner and Consultant Coverage - MSCI to discuss some key trends of ESG investing among UK pension funds today

Multi asset credit
Pensions Age editor, Laura Blows, discusses multi asset credit with Royal London Asset Management senior fund manager, Khuram Sharih
Pensions Age podcast: buy-outs and buy-ins for member and employer nominated trustees
Pitfalls and good practice when approaching insurers with Pensions Age editor, Laura Blows, Martin Parker (Just Group) and Akash Rooprai (ITS)