LPFA uses Tumelo to improve transparency of their equity portfolio

The London Pension Fund Authority (LPFA) has today announced the launch of its new 'transparency dashboard' in partnership with impact-focused FinTech Tumelo.

The dashboard, which is integrated directly into the LPFA's corporate website , displays a breakdown of the £6.9 billion[1] Fund's equity investments including the individual company names, logos, and biographies, enabling both members and the wider public to learn more about where the Fund's equity investments are being held. The LPFA is one of the first Defined Benefit and Local Government Pension Scheme Funds (LGPS) to use Tumelo's transparency solution. Equities represent around 45% of the LPFA’s total portfolio[2].

The launch of the LPFA’s transparency dashboard comes as a direct response to member queries and the LPFA's 2021 Fund Member Survey which found that many of the LPFA’s 93,000 members wanted more information about how the Fund is invested and how it invests responsibly. The dashboard, updated quarterly, will allow LPFA members to check on the Fund’s equity investments.

Commenting on the launch, Robert Branagh, CEO, LPFA said: “How we invest impacts the future of our economy, our environment, our society and therefore our members’ future. Transparency around how our Fund is allocated - particularly within the pooled environment of the LGPS – is important in helping all of us understand how our pensions, our world and our society is interlinked. It's also important that Funds making net zero commitments can demonstrate evidence of their transition to a low carbon future. Transparency around our equity holdings is a first step.

“The LPFA strives to be a responsible investor and we do play a positive role in society. However, we believe that we can do more, and we hope that this dashboard will start a dialogue with our members about how the Fund is invested. This is intentional as engagement with our stakeholders is important in ensuring that the LPFA are listening to the views of those most important to us.

We’ll also be working with our delegated asset managers, LPPI, to improve how we report on our responsible investment activity.”

Georgia Stewart, CEO & Co-Founder, Tumelo said: "It is important for pension members to know which companies their pension is being invested in as this investment will impact their social, environmental and financial outcomes at retirement. Schemes across the UK are making significant climate commitments and it is fantastic to see yet another Local Government Pension Scheme take the steps to provide this level of transparency to their members using our dashboard. LPFA is clearly leading by example!"

Tumelo's solution presents holdings data in an engaging, easy to find and understand, and easy to use format for both pension members and any member of the public.

[1] Data accurate at 31 March 2021 in the LPFA’s 2021 Annual Report: https://www.lpfa.org.uk/library/our-performance/annual-reports

[2] Data accurate at 31 March 2021 in the LPFA’s 2021 Annual Report: https://www.lpfa.org.uk/library/our-performance/annual-reports