Kieran Quinn appointed as chair of LAPFF

The LAPFF AGM was last week. "Councillor Kieran Quinn, chair of Greater Manchester Pension Fund, has been appointed as chair of Local Authority Pension Fund Forum (LAPFF) at its annual general meeting this week.

Councillor Quinn takes over from Ian Greenwood, chair of the West Yorkshire Pension Fund, who has led LAPFF since January 2008. Councillor Cameron Rose, representing Lothian Pension Fund, and Ian Greenwood have been appointed vice-chairs of LAPFF.
In addition there are two new members of the Forum’s executive – councillor John Gray representing the London Borough of Newham pension fund, and councillor Patricia Glasman, chair of Merseyside Pension Fund.

Incoming LAPFF chair, Kieran Quinn, said: “I am very pleased to be taking over as chair of the Forum at this exciting time. Over the last few years LAPFF has grown rapidly in both membership and influence. Our work on issues such as accounting standards and remuneration reform has broken new ground, and engagements at companies such as M&S and News Corp have given us a much higher profile.”

“I would also like to pay tribute to Ian’s leadership over the past five years, during which time the Forum has made enormous strides forward. I hope I can build on Ian’s record and cement LAPFF’s position as the UK’s leading shareholder body.”

Ian Greenwood said: “Having decided to stand down as chair at this AGM, I am extremely pleased to see my friend and colleague Kieran Quinn elected. I am certain he will provide the leadership needed to take LAPFF forward. I look forward to working with him in my position as vice-chair.”

Islington: Residential property to provide ethical, long-term returns - Investment - Pensions Week

I got a twitter message from the editor of Pensions Week , David Rowley referring to this video of him interviewing Chair of Islington Pension committee, Richard Greening, about their investment into residential property. They are putting around 2.5% of their £800 million fund into it and hope for a long term 4-5% return above inflation, as well as increasing housing supply. Greater Manchester Pension Fund is doing something similar.

For years I have been puzzled why Council Pensions funds haven't invested in residential property? I never got a satisfactory answer from advisers or fund managers why this is so. While these schemes are for the private rented sector, I'll be obviously interested in social housing as well.

There are of course risks and concerns that many Council pension funds are too small to invest in such assets. Also the beneficiaries representatives need to be involved in the decision making since it is their pension futures that will be at risk.