U.K. corporate pension funds will be required to disclose their policies on socially responsible investments, under a government regulation unveiled today. The rule, which will become effective in July 2000, requires disclosure of any investment policies involving social, environmental and ethical factors. Trustees also will be required to state their policies on voting their shares. An identical rule affecting local authority funds will be published this month. A National Association of Pension Funds release said the organization was satisfied that the new rule would affect only disclosure, and would not force changes in pension investments. In response to the new rule, Friends Ivory & Sime launched an investment strategy that lobbies portfolio companies to be socially responsible. The underlying portfolio, however, remains unchanged from the firms regular investment approach. Aberdeen City Council Pension Fund has awarded the manager a £20 million ($31.6 million) U.K. equity portfolio.