Issue - meetings
Investment Strategy and Manager Summary
Meeting: 08/11/2016 - Clwyd Pension Fund Committee (Item 48)
48 Investment Strategy and Manager Summary 
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To update Committee Members on the performance
of the Fund's investment strategy and Fund Managers.
Additional documents:
Decision:
That the report be noted.
Minutes:
Mr Harkin (Fund Investment Consultant – JLT Group) presented a report to update Committee on the performance of both the Fund’s investment strategy and investment managers for the quarter ended 30 September 2016.
Mr Harkin reported that the Fund had experienced a strong quarter from an Investment Strategy perspective, with positive returns from all strategic asset classes except the Managed Account Platform. Key points included:
· during the quarter the Fund's total market value increased by £106.3 million to £1.587 billion.
· funding level information could not be provided due to a change in the discount rate methodology used for the 2016 Actuarial Valuation, the results of which have yet to be finalised.
· over the quarter, total Fund assets returned 8.1% compared with a composite target of 5.7%, an outperformance of +2.4%.
· a number of the Fund’s investment managers outperformed their respective targets during the quarter with particularly strong performance from the Fund’s “Best Ideas” portfolio. The previously poor three month performance of Investec had now started to recover.
RESOLVED:
That the report be noted.