Issue - meetings
Investment and Fund Managers Performance Review for Quarter Ending 30th June 2018
Meeting: 18/09/2018 - Pensions Committee (Item 6)
6 Investment and Fund Managers Performance Review for Quarter Ending 30th June 2018 PDF 220 KB
Additional documents:
- Appendix 1 – Northern Trust Performance Review Report - June 2018, item 6 PDF 814 KB
- Appendix 2a-2d LCIV SubFunds Quarterly Report for June 2018, item 6 PDF 802 KB
- Appendix 3 – GSAM Investment Review for the Quarter June 2018, item 6 PDF 3 MB
- Appendix 4 – Insight Investment Review for the Quarter June 2018, item 6 PDF 1 MB
- Appendix 5 – LGIM Investment Review for the Quarter June 2018, item 6 PDF 2 MB
- Appendix 6 – Schroders Property Investment Review for the Quarter June 2018, item 6 PDF 809 KB
Minutes:
Bola Tobun, Investment and Treasury Manager presented a report which outlined the performance of the Pensions Fund and its investment managers for the first quarter of 2018/19. The Fund performed in line with its benchmark return of 2.95% for the quarter and the Fund value has increased by £40m during the last quarter.
During this quarter seven mandates matched or achieved returns above the set benchmark. Members were advised that two Managers had underperformed over both the quarter and the longer term and the Committee will be requested to make a decision on what course of action should be taken. Members were reminded that Fund Managers were employed to outperform set Benchmarks over a period of three years and they could be changed if performance was unsatisfactory. The Committee noted that ‘Infrastructure’ and ‘Private Debt’ were alternative investment products. Investment returns were important in helping to address funding gaps.
Members requested that the future Tables which detail Managers Investment Performance relative to benchmark be presented separately on an A4 Sheet. Officers also requested that the graphs which illustrate the portfolio value movements of each mandate for the Quarter also includes the transfers between Funds. This information should be depicted explicitly on the graph.
RESOLVED
1. To note the contents of the Report;
2. That the Table which details the Managers Investment Performance Relative to Benchmarks is displayed on an A4 Sheet; and
3. That the graphs which illustrate the portfolio value movements of each mandate for the Quarter includes transfers between Funds and this be depicted explicitly on graphs.