Highland Pension Fund

Statement: “Highland Council itself does not hold any investments in defence companies. The Highland Pension Fund, which is a different entity from the Highland Council and has its own governance structures, holds a small proportion of its assets in the defence sector.

“The Highland Pension Fund has its own board and committee, constituted of pension scheme members, trade union representatives, and elected members from authorities within the scheme. The Pension Fund has its own Governance Policy, Funding Statement and Statement of Investment Principles. The Highland Pension Fund assets are held as part of a balanced portfolio that aims to maximise returns whilst minimising risk for the benefit of the scheme members. Investment decisions are made in line with the Fund’s ‘Statement of Investment Principles’.

“The Fund recognises that social, environmental and ethical considerations are among the factors which Managers will take into account, where relevant, when selecting investments for purchase, retention or sale. The Council has instructed the Investment Managers to take into account the key principles of socially responsible investment, primarily through a policy of engagement with Companies that demonstrate appropriate observance of these principles.”