Waltham Forest Council has invested £20million in a company specialising in caravan holidays.
Darwin Leisure Property Fund manages 15 holiday parks in the UK and the authority has joined other council's in using it to boost its pension pot, according to the Professional Pensions website.
The fund boasted 26.2% performance returns in the 12 months to October 31 and the council's pension manager, Debbie Drew, told the site it offered "strong, predictable long-term returns".
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