- Available in: Print and PDF
- Published: September 1, 2012
Published September 2012 Price £9.99
The recession and persistent credit squeeze has prompted a fundamental rethink about what we should be investing in and where new sources of finance might come from. Pension funds, including those of local authorities, have become an important item on this new agenda, with much talk in Whitehall and town halls about directing pension fund investment towards upgrading the nation’s infrastructure and kick-starting major capital projects.
Local authority pension funds, which hold investments and assets of more than £120 billion, already make substantial investment in the UK. But in this time of fiscal austerity and uncertainty, can they do more to invest for wider economic and social benefit? This unique and extremely timely study tests out what the demand and scope for such investment might be; takes an impassioned look at what has been achieved and can be achieved; highlights the key opportunities and barriers to change; and makes some practical recommendations to government, local authority pension funds and their partners.
The study calls for government and local government to do more to promote pension fund investment in projects which provide wider socio-economic benefits: blending and pooling funds and setting up a new independent clearing house for alternative investments.