Barings never a SSPF risk

I wish to correct any misunderstanding that may have arisen by the reference to the Solicitors Staff Pension Fund in the cover story 'Middle Temple hit by Barings fall' (The Lawyer 28 March).

For the record, the only part of the fund at risk during the period of administration was the credit balances held with Baring Brothers & Co which were frozen. These amounted to one quarter of one per cent of the total value of the fund and have now been unfrozen.

The remainder of the fund was in the form of non cash securities. These were registered in the name of a nominee company, ringfenced and were not subject to any claims from the administrator. I am pleased to confirm, therefore, that the assets of the fund have not been adversely affected by the problems at Barings.

Elspeth McKinnon

Chief executive

Solicitors Staff Pension Fund