Issue - meetings

Overview of Past and Current Investment Position

 

 

Meeting: 15/09/2017 - Pension Fund Committee (Item 56)

56 Overview of Past and Current Investment Position pdf icon PDF 104 KB

11:40

 

Tables 1 to 4 are compiled from the custodian's records. The custodian is the Pension Fund's prime record keeper. He accrues for dividends and recoverable overseas tax within his valuation figures and may also use different exchange rates and pricing sources compared with the fund managers. The custodian also treats dividend scrip issues as purchases which the fund managers may not do. This may mean that there are minor differences between the tabled figures and those supplied by the managers.

 

The Independent Financial Adviser will review the investment activity during the past quarter and present an overview of the Fund’s position as at 30 June 2017 using the following tables:

 

Table 1

provides a consolidated valuation of the Pension Fund at 30 June 2017

Table 2

shows net investments/disinvestments during the quarter

Table 3

provides investment performance for the consolidated Pension Fund for the quarter ended 30 June 2017

Table 4

provides details on the Pension Fund’s top holdings

 

In addition to the above tables, the performance of the Fund Managers has been produced graphically as follows:

 

Graph 1                     Market value of the Fund over the last three years

Graphs 2 – 5             Performance of the Fund Managers attending Committee, for the quarter ended 30 June 2017    

 

The Committee is RECOMMENDED to receive the tables and graphs, and that the information contained in them be borne in mind, insofar as they relate to items 16, 17, 18, 19 and 20 on the agenda.

Decision:

Received.

Minutes:

The Independent Financial Adviser reviewed the investment activity during the past quarter and presented an overview of the Fund’s position as at 30 June 2017.

 

Mr Davies reported that the overall value of the Fund over the last quarter had increased by £37m, over £20m of which was due to Equity gains, Bonds having fallen slightly.

 

The Committee RESOLVED to receive the tables and graphs, and that the information contained in them be borne in mind insofar as they related to Agenda items 16, 17, 18, 19, and 20 in the Agenda.