CAAT Campaigns - Clean Investment - Wales local authorities 2007

Local authorities: Wales

Details of known local authority shareholdings in the major European and US arms companies are listed below. The figures were primarily gathered using the Freedom of Information Act and should be read in conjunction with the notes. Shareholding and asset values relate to 31 December 2006 unless otherwise stated.

Cardiff & Vale of Glamorgan Pension Fund

Cardiff City Council
County Hall
Atlantic Wharf
Cardiff
CF10 4UW

Known shareholdings in identified arms companies:

1. Lockheed Martin
2. Boeing
3. Northrop Grumman
4. BAE Systems
5. Raytheon
6. General Dynamics
7. EADS
8. L3 Communications
9. Thales
10. Halliburton
11. Finmeccanica
17. Rolls-Royce
27. QinetiQ
40. VT
55. Cobham
66. Meggitt
79. Ultra Electronics

£0
£0
£0
£0
£0
£0
£0
£0
£0
£0
£0
£198,353
£0
£0
£0
£0
£0
£198,353

Total assets: £881 million
Total arms company holdings as % of assets: 0.0

Shareholding figures provided by the local authority:
No pooled shareholdings provided

Clwyd Pension Fund

Flintshire County Council
County Hall
Mold
CH7 6NA

Known shareholdings in identified arms companies:

£0
£290,290
£0
£3,777,254
£207,572
£121,471
£0
£20,877
£0
£41,217
£0
£4,515,236
£0
£0
£0
£2,501,080
£0
£11,474,997

Total assets: £855 million
Total arms company holdings as % of assets: 1.3

Shareholding figures provided by the local authority:
All shareholdings provided

Dyfed Pension Fund

Carmarthenshire County Council
County Hall
Carmarthen
SA31 1JP

Known shareholdings in identified arms companies:

£0
£0
£0
£3,917,225
£0
£0
£0
£0
£0
£0
£0
£1,330,314
£0
£0
£0
£0
£1,034,194
£6,281,733

Total assets: £1,096 million
Total arms company holdings as % of assets: 0.6

Shareholding figures provided by the local authority:
All shareholdings provided

Greater Gwent Pension Fund

Torfaen County Borough Council
Civic Centre
Pontypool
NP4 6YB

Known shareholdings in identified arms companies:

£0
£0
£0
£7,416,692
£0
£0
£0
£0
£0
£0
£0
£5,423,115
£0
£75,665
£227,719
£161,414
£0
£13,304,605

Total assets: £1,257 million
Total arms company holdings as % of assets: 1.1

Shareholding figures provided by the local authority:
All shareholdings provided

Gwynedd Pension Fund

Gwynedd Council
Swyddfa'r Cyngor
Caernarfon
LL55 1SH

Known shareholdings in identified arms companies:

£0
£0
£0
£2,000,599
£0
£0
£0
£0
£264,729
£0
£0
£396,075
£0
£0
£554,319
£429,722
£0
£3,645,444

Total assets: £786 million
Total arms company holdings as % of assets: 0.5

Shareholding figures provided by the local authority:
All shareholdings provided
(on 8 October 2007, after campaign launch deadline)

Powys Pension Fund

Powys County Council
County Hall
Spa Rd.
Llandrindod Wells
LD1 5LG

Known shareholdings in identified arms companies:

£0
£0
£185,550
£128,437
£0
£82,130
£247,087
£5,185
£0
£0
£73,797
£0
£0
£0
£0
£0
£0
£722,186

Total assets: £283 million
Total arms company holdings as % of assets: 0.3

Shareholding figures provided by the local authority:
All shareholdings provided

Rhondda Cynon Taff Pension Fund

Rhondda Cynon Taff Borough Council
Bronwydd House
Porth
CF39 9DL

Known shareholdings in identified arms companies:

£839,541
£705,854
£0
£0
£477,511
£384,448
£0
£0
£0
£0
£0
£6,263,431
£0
£0
£0
£3,517,009
£0
£12,187,794

Total assets: £1,276 million
Total arms company holdings as % of assets: 1.0

Shareholding figures provided by the local authority:
All shareholdings provided

Swansea Pension Fund

City and County of Swansea
County Hall
Oystermouth Road
Swansea
SA1 3SN

Known shareholdings in identified arms companies:

£107,585
£194,480
£66,206
£4,426,081
£66,206
£82,757
£661,118
£28,965
£183,644
£86,895
£514,203
£731,872
£87,128
£69,702
£209,106
£121,979
£69,702
£7,707,629

Total assets: £832 million
Total arms company holdings as % of assets: 0.9

Shareholding figures provided by the local authority:
All shareholdings provided

Notes to the local authority shareholdings

1. While the greatest care has been taken to ensure the accuracy of all the figures in this report, CAAT recognises the possibility of human error, and recommends that this fact be kept in mind when referring to the information it contains. The figures are as known on 3 July 2007.

2. The vast majority of the figures in the report are taken from responses to Freedom of Information Act requests made to each local authority pension fund. Thus, unless otherwise stated, each individual local authority listed is the source of the information provided on that pension fund.

3. The information on shareholdings that has been provided by most of the local authority pension funds is categorised as one of the following:

'All shareholdings provided' indicates that, as we understand it, all relevant shareholding figures have been provided by the local authority.
'No pooled shareholdings provided' means that direct shareholdings (specific investments in specific companies) were provided but not shareholdings within pooled funds (where investment is part of a wider fund that holds shares in a group of companies. These funds may be organised in a number of ways, from the active selection of specific companies to the passive tracking of a particular investment index such as the FTSE 350).

If the local authority has not responded or has refused to provide the requested information, this is spelt out below each pension fund's table of figures. If an alternative source of information has been used, this has also been explained.

4. The companies investigated are the world's top eleven arms companies (by military revenue) plus six other UK-headquartered arms companies that rank inside the world's top 100. These are taken from www.defensenews.com. The number in front of the company name is the world ranking by military revenue (also shown in the shareholding lists) and the country where they are headquartered is given. Halliburton separated from subsidiary KBR, which carried out the bulk of its military-related work, in April 2007. KBR is now a stand alone company.