LGPS will be required to disclose publicly their level of international and UK equity investments

Jeremy Hunt has today announced in his Spring Budget that the LGPS will be required to disclose publicly their level of international and UK equity investments.

Hunt said, “I want our brilliant technology entrepreneurs not just to start here but to stay here, including when the time comes for a stock market listing. So we will build on the Edinburgh and Mansion House reforms to unlock more pension fund capital. We will give new powers to The Pensions Regulator and Financial Conduct Authority to ensure better value from Defined Contribution schemes by judging performance on overall returns not cost.”

Hunt also said he remained concerned that other markets such as Australia generate better returns for pension savers with more effective investment strategies and more investment in high quality domestic growth stocks. As a result, Hunt announced he will introduce new requirements for DC and the LGPS to disclose publicly their level of international and UK equity investments. He will then consider what further action should be taken if we are not on a positive trajectory towards international best practice.