The Isle of Wight Council has been accused of holding over £74 million in investments “complicit” in the “subjugation and annihilation” of Palestinians.
Highlighting the government’s recent clampdown on trade with illegal West Bank settlements, resident Jenni Agricola’s question to pension fund councillors on Wednesday (28th October 2026) said it is “three years into a genocide”.
Her probe at County Hall follows Island campaigners’ concerns over an “ongoing failure” to debate ethically investing the authority’s pension fund.
It also comes after recent divestment motions passed by the London councils of Tower Hamlets and Newham, relating to companies complicit in breaches of international law.
Resident’s question to the committee
Ms Agricola’s written question said,
“When will the Isle of Wight pension fund committee (IWPFC) look at their UBS investments complicit in the subjugation and annihilation of the Palestinian people, which are now totalling more than £74 million, and tell their fund managers to invest elsewhere?”
Following the meeting, she told the Local Democracy Reporting Service (LDRS) she was referring to UBS Asset Management – a large scale global investment manager.
Committee chair’s response
Councillor David Llewellyn, Reform UK chair of IWPFC, said the panel takes its responsibilities as a long-term investor seriously and recognises the importance of responsible investment to (pension fund) scheme members and the wider community.
He added,
“The fund continues to work towards joining Local Government Pension Scheme Central (LGPS Central) as a shareholder. Pending completion of that process, its investments remain with its existing managers.
“The committee remains responsible for the fund’s investment strategy and responsible investment objectives. Responsible investment includes consideration of environmental, social and governance issues, including human rights and their implications for investment risk and returns.
“Any investment decision requires a proper assessment of the evidence, the available options and the implications for the fund, consistent with the committee’s legal duties to scheme members and employers.
“The committee’s focus remains on securing appropriate pooling arrangements and maintaining a responsible approach to the fund’s investments.”
No commitment to change manager
The councillor said it would not be appropriate to commit to a change of manager, product or investment in response to this question.
He added that any such decision must be properly justified and consistent with applicable legal duties, including the requirements governing decisions based on non-financial considerations.
LGPS Central is a company managing the pooled assets of 14 local government pension schemes.
This article is from the BBC’s LDRS (Local Democracy Reporting Service) scheme, which News OnTheWight is taking part in. Some alterations and additions may have been made by OnTheWight. Ed
