Avon Pension Fund members are split over whether the scheme should continue investing in the aerospace and defence sector, according to a recent consultation.
Members were asked to weigh in on the importance of financial returns, NATO defence commitments, and investing in companies supplying countries involved in conflict.
The £5.8bn (€6.7bn) fund emailed the survey to 26,360 members, with 2,500 (9.5%) responding anonymously.
Respondents raised concerns over civilian harm and the environmental impact of the sector. Despite this, 47% said they preferred the fund to continue investing, while 42% favoured withdrawing.
Demographic trends emerged in the responses: males over 55 tended to support ongoing investment, whereas females and members under 55 were more likely to favour divestment.
Noting that discussion around the aerospace and defence sector is a “difficult issue”, Toby Simon, chair of Avon Pension Fund, said: “At its next meeting, the committee will make a final decision on whether the fund should continue investing in aerospace and defence.”
He added that the survey is a “valuable input into the committee’s decision-making and will be considered alongside other important factors, including legal and financial considerations”.
The fund’s next committee meeting is scheduled for 12 December, when a final decision on the sector’s future in the portfolio is expected.
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