Decision details

(Exempt information as defined in Paragraph 3 of Part 1 of Schedule 12A of 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).

Mr Lambert, Independent Adviser to the Committee, presented a detailed report on the performance of the Lancashire County Pension Fund and highlighted a number of key areas, including the following: 

·  The economic and market background

·  The total Fund return as at 30^th September 2018

·  Updates in relation to the performance of the equity, credit, real estate infrastructure and private equity portfolios.

·  Asset allocations

·  The funding ratio at 30^th June 2018 and

·  Details of contributions net of benefits and investment income.

In considering the report the Committee noted the current level of asset allocation in relation to Real Estate and it was suggested that increasing future investment in that area should be explored.

Resolved:

1.  That the report and the updates on performance of the Fund presented at the meeting are noted.

2.  That the Investment Panel be requested to discuss with the Local Pensions Partnership the proposed work plan to reach the target asset allocation in Real Estate.