The revised Statement has also been drawn up in accordance with new
statutory requirements affecting pension funds both in the private and
public sectors. For LPFA, this involved a process of consultation with all the employing authorities in the fund, investment managers, custodian, actuary, auditors, the GLA and the DETR.
'LPFA has consistently followed best practice on investment principles, which is now enshrined in the new regulations. The process of formal consultation has been most helpful in finalising the document and taking on board the views of those directly affected by the investment process.'
Fund members will be notified of the changes in their annual report, due to be sent out in August. There will also be the opportunity to discuss the Fund's investment arrangements at the fund members forum on 7th November.
A full copy of the Statement is attached and will shortly be available on the LPFA web site
Further details about LPFA are available on the web site and will be updated in the Annual Report and Accounts 1999-00 due to be presented to parliament in July and published shortly thereafter.