PROTESTERS are expected to gather outside Glasgow City Council next week to campaign against an £18.9 million investment into four major arms companies.

A recent report indicates that the Strathclyde Pension Fund, administered by the local authority, has invested £18,886,971 in four defence firms.

Airbus, Raytheon, Lockheed Martin and Northrup Grumman are believed to have supplied weapons linked to the conflict in Yemen which has led to death of thousands.

Glasgow protest groups say the money should be used in a more ethical way.

But the Strathclyde Pension Fund claim most of the money has been invested in a civilian aviation firm and only a small percentage went to arms dealers.

On Wednesday, May 15, at 1pm, protestors will lobby outside Glasgow City Council chambers demanding that the Strathclyde Pension Fund “divest” from their investment and create a more ethical scheme.

With 50-100 people expected at the demonstration, trade unions, local councillors and community campaigners are likely to attend.

They will hand a letter to Council Leader councillor Susan Aitken demanding the organisation take back the cash to avoid women and children being killed these conflicts.

Sean Clerkin, community campaigner, said: “The £18.9 million given to these companies is disgraceful. Strathclyde pension fund are investing in wars which are unethical and immoral.

“The Strathclyde Pension Fund must immediately divest themselves of this and create an ethical investment policy where they don’t place money with major arms dealers.

“[If they don’t change their investment policy] they must take responsibility for bombing and killing many innocent civilians including children in Yemen.

“We will host a major protest outside Glasgow City Council. All are welcome. We will hand a letter into the council calling for these changes.”

The Strathclyde Pension Fund said they committed to following the principles and guidelines of the United Nations.

A spokesman said: “These figures show very limited exposure relative to the value of the fund – less than 0.1 percent, most of which is invested in a primarily civilian aviation firm.

“The fund is a signatory to and active participant in the United Nations principles for responsible investment and has appointed independent monitors to ensure these principles are adhered to by its investment managers.”