UK - Fidelity International has stressed its "generally non-partisan" approach to politics - despite donating £360,500 to the Conservative Party from April 2004 to February 2007.
As a result, the London Borough of Haringey, has reportedly sought an explanation from the fund manager why the donations were made. The London Borough of Tower Hamlets pension fund is also said to be unhappy with the events, according to media reports.
Peter Yandle, executive director for corporate communications at Fidelity International, declined to confirm if the local authorities had demanded an explanation about the contributions because the company did not comment on client matters.
Yandle said: “We do not comment on our political donations. We do not endorse political candidates and generally we take a non-partisan approach with politics.”
He added that the firm did naturally engage with politicians when it came to dealing with investment and pension issues.
Asked if there had contributions to other political parties in recent times, Yandle said: “The Tory party is the only one we have made contributions over the past few years.”
Commenting on the matter, independent pensions policy adviser Ros Altmann, said: “I do not see that supporting any political party should make a significant difference.”
However, she added that the donations from Fidelity International implicitly criticised government policy.
Global Pensions contacted the London Borough of Haringey and the London Borough of Tower Hamlets and was still awaiting a comment at the time of going to press.
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