Pension Fund Investment

Summary

The request sought figures on Pension Fund investments in commodities and fossil fuel companies, which were fully disclosed by the Treasury. The response provided specific monetary values and portfolio percentages for these asset classes as of March 2019.

Key Facts

• The Treasury interpreted 'Pension Funds' as the Public Service Employees Pension Reserve and the National Insurance Investment Account.
• As of 31 March 2019, direct investment in fossil fuel companies was £42,973,044, representing 4.29% of the portfolio.
• Investment in commodities (defined as precious metals and mining) was £19,365,379, representing 1.93% of the portfolio.
• The total value of the Pension Funds investment portfolio was £1,002,788,600 as of 31 March 2019.
• The request was received on 31 May 2019 and the outcome was communicated on 6 June 2019.

Data Disclosed

• £42,973,044
• 4.29%
• £19,365,379
• 1.93%
• £1,002,788,600
• 31 March 2019
• 31 May 2019
• 6 June 2019
• 847165

Original Request

Under the FOI Act I am requesting the figures of the Pension Funds investment in Commodities and Fossil Fuel Companies. I would like to know how much the government invests in these assets and what percentage is that of the whole investment portfolio.

Data Tables (1)

Full Response Text

Freedom of Information Seyrsnys Fysseree

The Treasury Government Office, Douglas Isle of Man, IM1 3PU

Telephone: (01624) 685605 Email: FOI.Treasury@gov.im

Government Website: www.gov.im

Our ref: 847165 6 June 2019

Dear ###

I write further to your request which was received on 31 May 2019 and which states:

"Under the FOI Act I am requesting the figures of the Pension Funds investment in Commodities and Fossil Fuel Companies. I would like to know how much the government invests in these assets and what percentage is that of the whole investment portfolio."

In relation to the term ‘Pension Funds’, we have interpreted this as referring to the Public Service Employees Pension Reserve and the National Insurance Investment Account. We have also represented ‘commodities’ as goods related to precious metals and mining. Given these definitions, I can advise you that as at 31 March 2019, the Pension Funds investment was as follows - Investment Value (£) Investment value as a percentage of the Pensions Fund investment portfolio Direct Investment in Fossil Fuel Companies 42,973,044 4.29% Commodities 19,365,379 1.93% Please note that the total value of the Pension Funds investment portfolio as at 31 March 2019 was £1,002,788,600.

Please quote the reference number 847165 in any future communications.

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I will now close your request as of this date.

Yours faithfully