Issue - meetings
Investment Performance Review Quarter end 31st March 2016 and Fund Review for financial year 2015/16
Meeting: 30/06/2016 - Pensions Committee (Item 9)
Additional documents:
Minutes:
Bola Tobun, Investment and Treasury Manager presented the report which informed Members of the performance of the Fund in the preceding quarter. The following matters were noted:
· For the quarter, the Fund underperformed the benchmark by 0.4%
· The Fund is behind its benchmark for the last twelve months to end of March 2016
· For this quarter end, four out of eight mandates matched or achieved returns above the benchmark
· GMO underperformed the benchmark by posting a positive return of 2.5% against a target return of 2.9%
· Shroeder outperformed the benchmark for this quarter.
In response to Members questions the Committee heard that;
· The performance of Fund Managers was not impacted by budget cuts.
· It is important to identify poor performance of Managers and challenge strategies.
RESOLVED
1. That the contents of the report be noted.