Dumfries and Galloway Council Pension Fund has over 15,000 members including employees of Dumfries and Galloway Council, Dumfries and Galloway College, Dumfries and Galloway Housing Partnership, the Scottish Agricultural College and several other local public and charitable bodies.
The fund’s statement of investment principles states that the pensions committee “take the view that non-financial factors should not drive the investment process at the cost of financial return on the Fund”. The fund “does not actively disinvest in companies for ethical, social or environmental reasons”.
We requested a list of the companies that Dumfries and Galloway Council Pension Fund invests in under freedom of information. However, the council sent us a list of pooled funds. We have been unable to obtain a complete list of the shareholdings of each of these funds but at least one (Legal & General UK Equity Index) holds shares in companies that undertake nuclear weapons work (BAE Systems and Rolls Royce).