Issue - meetings

11:50

The Independent Financial Adviser will review the investment activity during the past quarter, present a summary of the Fund’s position as at 30 June 2019, and highlight any key performance issues, with reference to Tables and Graphs.  He will also report on the annual performance report from PIRC which compares the Funds performance to that of its peers.   

Received.

The Independent Financial Adviser reviewed the investment activity during the past quarter, presented a summary of the Fund’s position as at 30 June 2019, and highlighted key performance issues, with reference to Tables and Graphs.  He further reported on the annual performance report from PIRC which compared the Funds performance to that of its peers.   

Mr Davies reported that during the latest quarter, PIRC had compiled detailed performance statistics for 64 of the LGPS funds, with a combined value of £193bn.  The statistics showed that the Fund as a whole had been above the median for the 1,3, 5 and 10 year periods.

DGF and Insight had shown very good performance.  The asset allocation as at March 2019 was broadly similar to that of the median LGPS fund at asset class level.  Overall the Fund’s performance was 40 or 42 out of all the Funds.

RESOLVED: to receive the report, tables and graphs and that information contained in them be borne in mind insofar as they related to Agenda Items 18, 19 and 20 on the agenda.