Authority pension fund invests in cars, beer and burgers

BEER, cars, and fast food are just some of the sort of firms to have received investment from Gloucestershire County Council’s pension fund.

Anheuser-busch Inbev, which produces beers like Budweiser, Corona, and Stella Artois, has £3,287,136.26 worth of investment from the fund. In addition, the pension fund also invests in Japanese beer group Asahi, totalling £885,055.47. British breweries also have investments with the pension fund - Greene King (£1,523,145.84) and Marstons (£1,428,712.18).

A Freedom of Information request to the council has seen them reveal the companies they have invested their pension fund into as of March 31 this year.

Gloucestershire County Council uses the Local Government Pension Fund which is not owned by the council and paid into by over 100 organisations and councils. Mcdonald’s has £1,098,809.03 worth of investment from the Local Government Pension Fund. Oxford and Cambridge universities have investments of £781,380.00 and £1,499,940.00 respectively. BMW, Volkswagen, and National Express have investment, along with food giant Kraft-heinz.

Councillor Lynden Stowe, cabinet member for finance and change at the county council, said: “Gloucestershire local government pension fund isn’t owned by the county council, but by the thousands of local government staff and pensioners from over 100 organisations and councils in our area that pay into it.

“Specific investment decisions are made by independent investment managers, who work to make sure that the needs of both pensioners and council taxpayers are protected.”