3.2 Strathclyde

Strathclyde Pension Fund is Scotland’s largest local authority pension scheme fund. A list of assets taken from the fund’s website shows that it held shares with a market value of over £89 million as of 31 March 2018 in 11 companies which are involved in nuclear weapons work:

Company Value of shares (£)
Airbus 26,009,098
Boeing 1,821,278
Fluor 113,729
General Dynamics 807,653
Honeywell International 6,782,769
Huntington Ingalls 93,363
Jacobs Engineering 112,691
Lockheed Martin 1,195,998
Northrop Grumman 797,271
Rolls Royce 34,299,308
Safran 17,139,870
Total 89,173,028

*Note: the figures in this table, with the exception of the figure for Rolls Royce, were converted from US dollars or Euros using exchange rate as at 31 March 2018: 1 EUR = 0.879514 GBP; 1 USD = 0.713637 GBP.

Strathclyde pension fund has drawn criticism for its investments in arms companies. See section 8.4 for information about how you can contact your local councillors to request that the fund divest from nuclear weapons and click here for our template letter to local councillors.