Islington council confirmed this week its plan to use money from its pension scheme to fund the building of new social housing and to invest in infrastructure.
Richard Greening, chair of the Islington council pension sub-committee, said: “Our analysis confirms that these assets can offer good investment returns while helping to provide the investment in homes and jobs that our economy needs.”
The pension scheme currently has 19,000 members and is worth £1bn.
A spokesperson from the council confirmed this morning that the houses would not only be in Islington, but also in other areas of London, as it would otherwise “concentrate risk too much from an investment perspective.”
Islington council indicated it is also interested in working with other London boroughs to jointly invest pension funds, under the umbrella of the Collective Investment Vehicle (CIV) project, through which boroughs will be able to invest in alternative asset classes (such as direct investment in infrastructure) that may not be easily achievable for individual funds.
Together, the 33 London borough pension schemes have assets of more than £24bn.
Heck yeah bab-eye keep them coming!
Thanks very much Xavier. I just *knew* I was going to get myself in a bit of trouble with those images!Here’s in english for the Freminet image you linked.Xavier from ??? If yes – I love digging around your site from time to time.
Kindness causes us to learn, and to forget, many things.
buzzbee – You’ll be seeing a lot of scamsters/opportunists using Obamacare as an excuse to line their pockets. Or to layoff workers they would have anyway to avoid bad publicity. I’ll bet the average American would go out of their way to patronize a responsible employer who provided their workers basic and reasonable wages and benefits. Just like we deride products made in overseas sweat shops.
Fun! I just told Brian I was going to check to see if there were any kid updates…and found this! Music class at that age sounds fun and chaotic.