Issue - meetings
Funding and Flight Path update
Meeting: 28/11/2019 - Clwyd Pension Fund Committee (Item 97)
97 Funding and Flight Path and Risk Management Framework update 
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To update Committee Members on the progress of
the Cash and Risk Management Strategy
Additional documents:
Decision:
RESOLVED:
(a) The updated funding position (currently on assumptions consistent with the 2016 valuation) and hedging position for the Fund and the progress being made on the various elements of the Risk Management Framework was noted.
(b) The impact of the equity protection strategy was noted.
(c) The Committee noted that any currency risk associated with the market value of the synthetic equity portfolio with the Flightpath strategy is hedged, and a further hedge has been placed on the Fund’s developed market physical equity holding.
Minutes:
The report was noted and no further questions were asked.
RESOLVED:
(a) The updated funding position (currently on assumptions consistent with the 2016 valuation) and hedging position for the Fund and the progress being made on the various elements of the Risk Management Framework was noted.
(b) The impact of the equity protection strategy was noted.
(c) The Committee noted that any currency risk associated with the market value of the synthetic equity portfolio with the Flightpath strategy is hedged, and a further hedge has been placed on the Fund’s developed market physical equity holding.