Issue - meetings

Overview of Past and Current Investment Position

 

 

Meeting: 09/03/2018 - Pension Fund Committee (Item 11)

11 Overview of Past and Current Investment Position pdf icon PDF 171 KB

11:30

 

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.

 

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 31 December 2017 using the following tables:

 

Table 1

provides a consolidated valuation of the Pension Fund at 31 December 2017

Table 2

shows net investments/disinvestments during the quarter

Table 3

provides investment performance for the consolidated Pension Fund for the quarter ended 31 December 2017

Table 4

provides details of the Pension Fund’s top holdings

 

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

 

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

Graphs 2-7 – Performance of the Fund Managers attending Committee to the quarter ended 31 December 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 13, 14, 15, 16 and 17 on the agenda.

 

 

Decision:

Received.

Minutes:

The Independent Financial Adviser reviewed the investments activity during the past quarter and presented an overview of the Fun’s position as at 31 December 2017.

 

Mr Davies reported that the overall value of the Fund over the last quarter had risen by £97m which was largely due to Equity gains and some in bonds and alternative assets.

 

RESOLVED: to receive the tables and graphs, and that the information contained in them be borne in mind insofar as they related to items 13, 14, 15, 16 and 17 on the Agenda.