Decision details

(Exempt information as defined in Paragraph 3 of Part 1 of Schedule 12A to the Local Government Act, 1972. It was considered that in all the circumstances of the case the public interest in maintaining the exemption outweighed the public interest in disclosing the information).

The Committee considered a presentation and report on the performance of the Fund as at 31 March 2016. A commentary from individual portfolio managers to highlight particular issues, areas of concern and key risks was included.

Particular reference was made to the following areas:

·  The economic backdrop;

·  The total fund return at 31 March 2016;

·  12 months performance to 31 March 2016 in respect of equities, real estate, credit, infrastructure, private equity;

·  Funding ratio since 31 March 2013;

·  Fund allocations;

·  Contributions net of benefits and investment income.

Resolved: - That the report, now presented, be noted.