London Borough of Enfield Pension Fund

London Borough of Enfield Pension Fund

The London Borough of Enfield Pension Fund operates as the administering authority for a statutory public sector pension scheme serving council employees and workers from other local employers within the borough. As part of the national Local Government Pension Scheme, the fund pools contributions from participating employers to provide defined-benefit retirement income. The fund's net asset value stood at approximately £1.6 billion as of March 2024, according to its public valuation reports. Asset allocation spans traditional and alternative categories, including listed equities, fixed income, property, infrastructure, and private equity. The fund is a shareholder in the London Collective Investment Vehicle, an FCA-authorised asset pool that aggregates LGPS capital across London boroughs for scale and fee compression. Direct real estate holdings include stakes in the BlackRock UK Property Fund, the Legal & General UK Property Fund, and the Brockton Capital-managed London Fund, a mixed-use vehicle focused on greater London. Cash and cash equivalents round out the liquidity sleeve, while infrastructure and private equity commitments are executed through external fund managers and co-investment structures. The fund employs a small dedicated team led by Head of Pension Investments Ravi Lakhani, supported by the Enfield Council pensions committee. It is a signatory to the UK Stewardship Code and the UN-supported Principles for Responsible Investment, integrating ESG considerations into manager selection and ongoing monitoring. The most recent annual report, for the year ending March 2024, confirmed the fund's net asset value and detailed performance across asset classes, with property and infrastructure returns providing diversification away from public-market volatility. Enfield's structural posture is defined by its dual identity: a stand-alone LGPS fund retaining direct property holdings while participating in the London CIV pooled vehicle. This hybrid approach — direct real asset ownership alongside pooled equity and bond mandates — allows the fund to maintain control over local property exposure while benefiting from aggregated fee bargaining through the CIV. Succession planning and governance sit with the pensions committee, which delegates day-to-day investment decisions to Lakhani and the in-house team.