Request
A
What is the most recent assessed value of the Strategic Reserve and Social Security Funds, and what is the date of that valuation?
B
What percentages of the Strategic Reserve and Social Security Funds are invested in Fossil Fuel companies (e.g. ExxonMobil, Shell, BP and Chevron) or in mutual funds/unit trusts that invest in such companies?
C
What investment manager or managers are employed to manage the investment strategies of the Strategic Reserve and Social Security Funds?
Response
A
The most recent valuation date for the investment portfolios of the Strategic Reserve and Social Security (Reserve) Fund is 31 October 2019.
At that date the portfolios were valued as follows:
• Strategic Reserve was valued at £897.0m
• Social Security (Reserve) Fund was valued at £1,924.7m
B
Of these portfolios, the majority of the investments are directly held.
The value of direct holding of equities engaged in ‘Oil, Gas & Consumable Fuels’ for the respective Funds are as follows:
• Strategic Reserve: - £5.3m which represents 0.6% of the Fund’s portfolio.
• Social Security (Reserve): - £13.0m which represents 0.7% of the Fund’s portfolio.
Data is not held to the exposure to fossil fuels indirectly held through followed vehicles.
C
A complete list of investment managers employed as of 31 October 19 to manage the investment strategies of the Strategic Reserve and Social Security Funds are detailed below:
• Adelphi Capital LLP
• Anchorage Capital Partners Offshore Ltd
• Antin Infrastructure Partners
• AQR Capital Management Europe LLP
• Ares Management Ltd
• Arrowgrass International Fund Ltd
• Baillie Gifford
• Basalt Infrastructure Partners II D.L.P.
• Blackrock
• Brevan Howard Asset Management LLP
• Broadstreet Asset Management
• Capital Fund Management LLP
• Caxton Associates LP
• CRC (Christofferson Robb & Company)
• Davidson Kempner Capital Management LP
• Dodge & Cox
• Goldman Sachs Asset Management
• GreenOak Real Estate Advisors LLP
• Harris Associates
• Harris Associates -Natixis
• Highline Capital Management, L.P.
• Insight Investment
• IPM (UK) Limited
• Lansdowne Partners (UK) LLP
• Leadenhall Capital Partners LLP
• Legal & General Investment Management
• Longview Partners LP
• Lothbury Investment Management Ltd
• M&G Investments
• Man Alternative Risk Premia
• Marshall Wace LLP
• Maverick Capital
• One William Street Capital Management
• Pictet Asset Management
• PIMCO
• Ravenscroft Group
• Sculptor Overseas GBP Fund
• Systematica Alternative Risk Premia Fund Limited
• Threadneedle Asset Management Ltd
• Unigestion
• Walter Scott & Partners
• Winton Future Funds Ltd
