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London Borough of Barking & Dagenham Pension Fund
The London Borough of Barking & Dagenham Pension Fund is a public defined-benefit scheme serving employees of the east London borough. Governance sits with a...
London Borough of Barking & Dagenham Pension Fund
The London Borough of Barking & Dagenham Pension Fund is a public defined-benefit scheme serving employees of the east London borough. Governance sits with a Pension Committee chaired by Councillor K. Haroon, with day-to-day administration overseen by Pensions Manager Justine Spring. The fund participates in the Local Authority Pension Fund Forum for shareholder engagement and pools the majority of its investments through the London Collective Investment Vehicle, a collaboration of London boroughs launched to strengthen bargaining power and reduce fees. Asset allocation spans public equities, fixed income, and a meaningful alternatives sleeve. The fund commits to the London CIV's Diversified Growth Fund, a multi-asset pooled vehicle designed for inflation-plus returns. Direct property holdings include the Vista PRS JV residential portfolio, Manchester Waters in Manchester, and The Hub in Harrow. Cash and current assets round out a liquidity buffer. The fund's alternatives exposure includes private equity and infrastructure mandates, accessed primarily through pooled fund structures rather than direct co-investments. The fund operates from the borough's Barking offices with no separate satellite locations. Pensions Manager Justine Spring represents the scheme at industry forums, including LAPFF, where UK local authority funds coordinate on ESG and stewardship priorities. Staffing levels are lean — consistent with a scheme of this size that leans heavily on external managers and the London CIV for execution and oversight. The fund has not disclosed a recent actuarial valuation date publicly. Structurally, the fund is defined by its membership in the London CIV, which centralizes manager selection and monitoring for 32 London boroughs. That hybrid architecture — retaining local committee governance while outsourcing portfolio construction to a shared vehicle — distinguishes it from standalone county funds that run in-house investment teams. Succession planning for the pension committee chair and the long-term impact of UK government pooling reforms remain key governance questions.
General information
Firm type
Pension Fund
Year founded
1965
Location
Region
Europe
Country
United Kingdom
City
London
Corporate office
London, United Kingdom
Principals
Councillor K. Haroon
Chair of the Pension Committee
Justine Spring
Pensions Manager
Sector focus
Frequently asked questions
Who runs investment decisions at the London Borough of Barking & Dagenham Pension Fund?
The Pension Committee, chaired by Councillor K. Haroon, sets investment strategy and monitors performance. Day-to-day administration and manager oversight is led by Pensions Manager Justine Spring. The fund delegates a substantial portion of investment selection to the London CIV, which pools assets from 32 London boroughs and runs a centralized manager selection process.
How does the London CIV relationship shape the fund's portfolio?
The London CIV pools assets from London borough pension funds to negotiate institutional fee levels and access private-market strategies that individual schemes cannot reach alone. Barking & Dagenham commits to the CIV's Diversified Growth Fund and other sub-funds, effectively outsourcing much of its manager selection and monitoring. The fund retains committee-level governance and can hold assets outside the CIV, including direct UK property.
What real assets does Barking & Dagenham hold directly?
The fund holds direct interests in UK residential property outside its pooled CIV commitments. Confirmed holdings include the Vista PRS JV portfolio, Manchester Waters in Manchester, and The Hub in Harrow. These sit alongside cash reserves and pooled infrastructure exposure through the London CIV.
Does the fund take direct co-investments or rely entirely on fund commitments?
The fund primarily invests through pooled vehicles — the London CIV's sub-funds for diversified growth, infrastructure, and private equity mandates — rather than taking direct co-investment positions. The direct residential real estate holdings represent the main exception to the pooled-vehicle approach within the portfolio.
What is the fund's engagement posture on ESG and stewardship?
Barking & Dagenham is a member of the Local Authority Pension Fund Forum, the UK coalition of public-sector schemes that coordinates shareholder engagement and voting on environmental, social, and governance issues. The fund channels its listed-equity stewardship through LAPFF's collective engagement efforts rather than maintaining a standalone in-house ESG team.
How is the scheme's funding health reported?
As a UK local government pension scheme, Barking & Dagenham participates in triennial actuarial valuations conducted by the London Borough of Barking & Dagenham as administering authority. Specific funding ratios and deficit figures are published in the authority's annual report and accounts, but the fund has not broadly publicized a recent valuation date through standalone communications.
What investment stages or sectors does the fund explicitly avoid?
The fund has not publicly disclosed explicit exclusionary screens beyond those applied through its pooled CIV commitments and LAPFF membership. UK local authority funds typically adhere to statutory investment regulations that restrict certain high-risk instruments, but Barking & Dagenham has not published a standalone list of prohibited sectors.
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