Lothian Pension Fund (LPF), Scotland’s second largest Local Government Pension Scheme fund with over £9.7 billion assets under management, has published its 2022/2023 Unaudited Annual Report and Accounts. Read the report at www.lpf.org.uk/publications/reports.
Continued growth, delivering for members and progressing digital strategy are the focus of the 2022-2023 report.
David Vallery, LPF’s Chief Executive Officer, says about the 2022-23 report:
“Despite the backdrop of unrest and change both in the UK and globally, 2022-23 for Lothian Pension Fund was another year of success and progress. We continued to support our members and employers, meet our commitments to responsible investing and advance the priorities set out in our business plan.
“We’ve maintained the highest customer service accreditations and brought more digital processing and self-service options on-line, significantly reducing the timescales involved for members.
“We’ve focused on strengthening governance, pensions administration, finance and investment arrangements and continue to ensure our services are efficient, effective and sustainable for members and employers. It’s also important we make LPF a great place for our colleagues.
“I’d like to take this opportunity to thank our boards and committees for their counsel and guidance and LPF colleagues for their continued innovation and dedication.”
David Vallery comments further on responsible investment:
“Our commitment to Responsible Investment and stewardship are clear and continue to gather momentum. Our infrastructure investment represents over 13.4% of the value of Lothian Pension Fund assets. Of the total portfolio, the majority is invested in the UK, and around a quarter is invested in renewables. During 2022/23, Lothian Pension Fund invested over £100m in renewable energy projects.”