Just read your article in the Epsom Guardian 'Council under fire for funding arms companies as well as tobacco'.

I am a member of the Surrey County Council (SCC) pension scheme and fully support the investment management and its attitude to tobacco company stocks.

I expect the fund to invest and perform to the best of its ability in the open market and deliver the returns required to meet its obligations.

Holding such stock does not encourage smoking - a smoker will freely choose to smoke, or give up, whomever are the shareholders. I doubt very much they even care.

I think your inclusion of arms manufacturers is very misleading - as a nation we are very proud of our armed services and expect them to be well equipped, preferably by British manufacturers, who employ a significant number of people in the UK and thus support the economy.

You fail to offer a balanced view of the industry and your argument about shareholding. Again I fully support the SCC pension fund managers.

Adrian Sancroft
via email

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