Legal & General Investment Management (LGIM)’s Post

We are thrilled to announce the launch this week of the new L&G Affordable Housing Fund. There has never been more pressure on England’s housing supply – a problem this fund will seek to address by putting pension capital to work in funding purpose-built rental and shared-ownership housing. With equity and affordability the fund’s twin priorities, it aims to positively impact hundreds of lives – a goal that has already attracted a cornerstone commitment of £125 million from ACCESS Pool, a collaboration between multiple local government pension schemes. For professional investors only. Capital at risk.

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This is very dangerous indeed. Local government pension funds ploughing their members’ money into political schemes, rather than seeking returns, and L&G using its power of discretionary investment to gain political favours (seats on advisory bodies, gongs, honours) by burying members’ money. Who ever made a return out of the affordable sector? The clue is in the name: low price/low rent = low profit (and soon you won’t be able to evict even if the tenant never pays).

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Chris Lewis

Property Development Specialist - Leisure & Renewable Energy sites

3mo

Excellent work!!! Congratulations 🥂

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Derek Williams

Real estate and private markets - investment and business development professional.

3mo

Many congrats Dan and team!

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