# Orkney Islands Council Pension Fund

Orkney Islands Council Pension Fund is a Pension Fund based in Kirkwall, United Kingdom.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Kirkwall, United Kingdom
- **Region:** Europe
- **Address:** Orkney Islands Council, Council Offices School Place, Kirkwall, Orkney KW15 1NY, United Kingdom
- **Assets under management:** 677 (Altss estimate)
- **Website:** www.orkney.gov.uk
- **LinkedIn:** https://uk.linkedin.com/company/orkneycouncil

## Regulatory record

- **Reports private funds:** No

## About

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.

## Sectors

- Infrastructure
- Private Credit
- Fixed Income

## People

- Gareth Waterson — Section 95 Officer

## Questions

### Who runs investment decisions at Orkney Islands Council Pension Fund?

Gareth Waterson acts as Section 95 Officer. Day-to-day portfolio management is delegated to external managers including Baillie Gifford, Barings, IFM Investors, and Legal & General Investment Management.

### Does Orkney Islands Council Pension Fund participate in fund commitments or only direct deals?

The fund invests exclusively through pooled vehicles and does not execute direct deals or co-investments.

### Which asset classes does Orkney Islands Council Pension Fund hold?

Holdings include UK and global equities, infrastructure funds, private debt, multi-asset growth funds, and UK gilts.

### How is Orkney Islands Council Pension Fund related to Orkney Islands Council?

The council serves as the administering authority and maintains oversight of the fund under the Local Government Pension Scheme.

### What professional networks does Orkney Islands Council Pension Fund belong to?

The fund is a member of the Local Authority Pension Fund Forum and uses services from Pensions and Investment Research Consultants Ltd.

## Related profiles

- [Funssest](https://altss.com/profile/funssest)
- [All Souls College](https://altss.com/profile/all-souls-college-oxford-university)

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/orkney-islands-council-pension-fund

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