Investment Strategy Statement

Introduction

Lancashire County Council (“LCC”) is the administering authority of the Lancashire County Pension Fund (the “Fund”). The investment strategy of the Fund plays a critical role in ensuring that there are sufficient funds to meet the pensions obligations to its Fund members. This document is the Investment Strategy Statement (“ISS”) adopted by the Fund and it outlines:

Investment objectives - objectives which reflect the long-term nature of the pension obligation and are focused on ensuring the long-term sustainability of the Fund;

Investment beliefs – reflecting the beliefs upon which the Fund investments are governed, and ensuring alignment with the investment management ethos of our investment manager;

Risk management – outlining how the Fund will manage the risks associated with its investments;

Asset allocation – assets that the Fund intends to invest in, such as equities, bonds and property, and the relative proportions of each; and

Environmental, social, and governance (“ESG”) – setting out the Fund’s approach to responsible investment, stewardship, ESG factors and the Fund’s Responsible Investment (“RI”) Policy.