Ealing Pension Fund switches to Paris-aligned equity strategy

A London Collective Investment Vehicle (LCIV) partner fund has transitioned its equity holdings into a Paris-aligned vehicle in a bid to meet its 2045 net zero target.

The £1.7bn Ealing Pension Fund has switched from Legal & General’s Low Carbon Target Index Fund to the Legal & General Paris Aligned World Equity Index Fund, as part of its decarbonisation strategy.

In August 2025, the fund moved £395.8m into the Paris-aligned strategy.

The Legal & General Investment Management (LGIM) Paris Aligned Fund has been restructured to allow pass-through voting and income distribution, enabling Ealing to exercise greater influence over individual holdings.

Over the past year, the fund delivered a return of 6.18%, outperforming its benchmark – the Solactive Developed Markets Paris Aligned ESG SDG Index – by one percentage point. It invests predominantly in large-cap US companies, with more than 20% of its holdings in technology stocks such as Nvidia and Microsoft.