Nearly nine out of 10 (89%) Local Government Pension Scheme (LGPS) funds are planning to increase their allocation to local social investing in the next few years, a new survey has revealed.
The research from Alpha Real Capital showed just over half (54%) of LGPS fund professionals in England and Wales said future investment will be within their council area.
A fifth said their local social investments would be within their pool while a quarter said it would be UK-wide.
Stuart Hanson, of Alpha Real Capital, said: 'Our research shows clearly that LGPS funds are very much focused on increasing their level of local and social investing, and the impact of this could be huge.
'Indeed, if only 5% of LGPS funds’ combined assets were allocated to local investment, this would unlock as much as £16bn for investment in assets that contribute towards positive social outcomes.'