Wednesday, September 26, 2012

Council Pension fund to build homes

Congratulations to Greater Manchester Pension fund (GMPF) for running a pilot scheme investing in 240 new homes for affordable rent and discounted sale. I'm still not fully aware of all the full details but what I understand so far it just makes perfect sense.

Councils have land, planning responsibilites, massive waiting lists and staff pension funds crying out for secure long term inflation linked investments.

£11 billion GMPF is obviously better placed to be able to fund such schemes than smaller Council funds, but I hope this is a welcome start.
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