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 report on the performance of the Fund as at 30

September 2015.  The information was again presented in the new format to ensure that it was more focussed and easy to understand. The new format also included commentary from individual portfolio managers to highlight particular issues, areas of concern and key risks.

Particular reference was made to the following areas:

·  The economic backdrop;

·  The total fund return at 30 September 2015;

·  12 months performance to 30 September 2015 in respect of equities, property, credit, infrastructure, private equity;

·  Funding ratio since 31 March 2013;

·  Fund allocations;

·  Contributions net of benefits.

The Committee welcomed the new report format and members felt that it would also be useful to receive a summary of income generated by the Fund.  Officers agreed to include this information in future reports.

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