Readers must be indebted to Chris Baker for the revealing report on East Sussex Pension Fund's investment policy (The Argus, May 3).

Perhaps he or she could next look at the investment policy of the insurance companies, another huge custodian of the people's cash.

Between them, these two "industries" own a massive proportion of our industry so, indirectly, the people can be said to own it.

Further, I understand by law they have to have the best financial interests of their contributors in mind when deciding investment policy. So the moral position is somewhat complicated.

-R G Jenkins, Hove