Orkney Islands Council Pension Fund

Orkney Islands Council Pension Fund

The Orkney Islands Council Pension Fund was established to deliver retirement benefits to employees of the Orkney Islands Council and related local bodies. It functions as one of the smaller funds within the UK Local Government Pension Scheme structure and remains under the direct oversight of the council as administering authority. The fund deploys capital through a series of pooled vehicles rather than direct holdings. Confirmed allocations include the Baillie Gifford UK Equity Fund, Baillie Gifford Global Alpha Fund, Baillie Gifford Diversified Growth Fund, Barings Global Private Loan Fund, IFM Global Infrastructure Fund, IFM Net Zero Infrastructure Fund, and Legal & General Gilts Funds. Geographic exposure spans the United Kingdom and global markets, with additional listed equity positions in Meta Platforms, Amazon, Microsoft, NVIDIA, and TSMC as of March 2025. Assets total $677 million. The fund retains Hymans Robertson as investment advisor and actuary, Bank of New York Mellon as global custodian, and KPMG as external auditor. It participates in the Local Authority Pension Fund Forum and receives benchmarking services from Pensions and Investment Research Consultants. Administration sits inside the Orkney Islands Council, with investment decisions executed through appointed external managers rather than an internal team. This structure limits direct deal activity and keeps the fund focused on manager selection within the LGPS framework.