Decision details

Quarterly Investment Performance Report

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: No

Decisions:

Lyndsey Gamble, Head of Financial Strategy and Planning, presented the report, drawing attention to the following key areas:

 

·         Current allocations to the different mandates (Paragraphs 3.1 to 3.4);

·         Movement in fund value (Paragraph 4.3); and

·         Annualised rolling 3 years to 31 December 2016 (Paragraph 11).

 

Councillor Edward Joyce sought further clarification on liabilities, to which the Head of Financial Strategy and Planning commented that these were not examined on a quarter basis, rather annually around December.

 

The Chair, Councillor Sunita Gordon, enquired as to why equal amounts had been taken from the different mandates in relation to the current investment strategy. David Walker, Senior Investment Consultant, explained this to be a pragmatic decision. Members further discussed the respective allocations to the different mandates.

 

Councillor Neil Garratt enquired as to the ‘highly priced Japanese company stocks’ mentioned under Paragraph 6.2, which the Senior Investment Consultant explained to mean overvalued.

 

The Strategic Director of Resources referred to an exempt supplement distributed to Members with regards to a review of Partners Group Infrastructure Allocation, upon which the Senior Investment Consultant elaborated. Members expressed an agreed desire to continue investment via Partners Group, in line with existing strategy and target allocation.

 

RESOLVED: that the performance of the Pension Fund Investment Managers be noted.

Publication date: 27/03/2017

Date of decision: 20/03/2017

Decided at meeting: 20/03/2017 - Pension Committee

Accompanying Documents: