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London Borough of Hammersmith & Fulham Pension Fund
The London Borough of Hammersmith & Fulham Pension Fund operates within the Local Government Pension Scheme, serving current and former employees of the...
London Borough of Hammersmith & Fulham Pension Fund
The London Borough of Hammersmith & Fulham Pension Fund operates within the Local Government Pension Scheme, serving current and former employees of the borough. Councillor Ross Melton chairs the Pension Fund Committee, while Karen Shackleton — founder of the impact-investing network Pensions for Purpose — chairs the Pension Board. Day-to-day administration sits with Local Pensions Partnership Administration, but the fund's investment posture is shaped by its committee and board. The fund splits its deployment between pooled assets through the London Collective Investment Vehicle and a separate sleeve of direct real estate and infrastructure commitments. The London CIV, a mandatory asset pool for 32 London LGPS funds, holds approximately 60–70% of Hammersmith & Fulham's assets. The direct portfolio reveals a heavy UK-centric property tilt: confirmed holdings include the Alpha Real Capital Index Linked Income Fund, the abrdn Long Lease Property Fund, Man GPM's Affordable Housing Fund, and a ground-rent strategy also managed by Alpha Real Capital. Infrastructure exposure runs through Quinbrook Renewable Infrastructure and Partners Group Direct Infrastructure, while a leisure-development mandate sits with Darwin Alternatives. LBHF maintains an understated but deliberate engagement footprint. It is a member of the Local Authority Pension Fund Forum, using the collective's weight for shareholder advocacy on governance and ESG. Karen Shackleton's parallel role at Pensions for Purpose signals an institutional comfort with impact-aligned frameworks, even if the fund's public materials remain squarely member-service oriented. A 2024 fund valuation placed its assets at roughly £1.4 billion, or approximately $1.76 billion. The fund's structural distinction lies in its dual governance and dual deployment model: administrative responsibility rests with LPPA, while investment oversight and direct allocations sit with the committee and board, giving it a split-control architecture uncommon among fully pooled LGPS peers. The direct portfolio — concentrated in UK property and global infrastructure — preserves an allocation edge that the London CIV pool alone would not offer.
General information
Firm type
Pension Fund
Year founded
1965
Location
Region
Europe
Country
United Kingdom
City
London
Corporate office
London, United Kingdom
Principals
Ross Melton
Chair of the Pension Fund Committee
Altss tracks 1 additional named team member for this firm — including direct investment leads, IR, and operating principals not listed on the public website.
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Frequently asked questions
Who makes investment decisions at the London Borough of Hammersmith & Fulham Pension Fund?
The Pension Fund Committee, chaired by Councillor Ross Melton, oversees investment strategy and allocation decisions. Karen Shackleton chairs the Pension Board, which provides scrutiny and assurance. Day-to-day administration is delegated to Local Pensions Partnership Administration, but the committee retains control over the fund's strategic direction.
How does the fund's relationship with the London CIV work?
Hammersmith & Fulham is both a shareholder and a participant in the London Collective Investment Vehicle, the mandatory asset pool for all 32 London LGPS funds. Approximately 60–70% of the fund's assets flow through London CIV sub-funds. The remaining assets are held in a direct portfolio managed outside the pool, primarily in real estate and infrastructure.
What does the direct portfolio look like?
The direct portfolio is concentrated in UK real estate and global infrastructure. Confirmed holdings include the Alpha Real Capital Index Linked Income Fund, abrdn Long Lease Property Fund, Man GPM Affordable Housing Fund, Quinbrook Renewable Infrastructure, Partners Group Direct Infrastructure, and two strategies with Darwin Alternatives — a leisure-development fund and a ground-rent mandate also run by Alpha Real Capital.
How large is the fund's asset base?
The fund does not publicly disclose a current AUM figure on its website. Based on the most recent LGPS actuarial valuation cycle, Altss estimates total assets in the $1.5–$3 billion range, with the 2024 valuation suggesting approximately $1.76 billion (Altss estimate).
What is the fund's posture on responsible investment and ESG?
The fund engages through two channels: the Local Authority Pension Fund Forum, where it participates in collaborative shareholder advocacy on governance and ESG, and an informal alignment with impact-investing principles via Karen Shackleton's parallel role as founder of Pensions for Purpose. The fund's own public materials do not foreground a standalone ESG policy.
Is this a single-employer pension scheme?
Yes, it is a single-employer fund within the broader Local Government Pension Scheme. It covers employees of the London Borough of Hammersmith and Fulham, with membership open to current workers, deferred members no longer contributing, and pensioners already drawing benefits.
How is the fund governed differently from other London LGPS funds?
Hammersmith & Fulham runs a split-governance model: investment decisions sit with the Pension Fund Committee and Board, while administration is outsourced to Local Pensions Partnership Administration. Most fully pooled LGPS funds delegate both functions. The fund also retains a direct-investment sleeve that gives it more asset-level control than peers operating entirely through the London CIV.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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