Issue - meetings
Economic and Market Update and Investment Strategy and Manager Summary
Meeting: 01/09/2021 - Clwyd Pension Fund Committee (Item 20)
20 Economic and Market Update and Investment Strategy and Manager Summary 
PDF 107 KB
To provide Committee Members with an economic
and market update and performance of the Fund and Fund
Managers.
Additional documents:
- Enc. 1 for Economic and Market Update and Investment Strategy and Manager Summary, item 20
PDF 857 KB
- Enc. 2 for Economic and Market Update and Investment Strategy and Manager Summary, item 20
PDF 349 KB
- Webcast for Economic and Market Update and Investment Strategy and Manager Summary
Decision:
The Committee noted the Economic and Market update.
Minutes:
Mr Dickson introduced himself and noted that from 30 June to 31 August 2021, global equities were up by approximately 5%, defensive assets were up by approximately 2% and index-linked gilts were also up by approximately 7 to 8%. As the economy opened up, Mr Dickson stated that he was cautious but optimistic about how markets moved going forward.
Mr Buckland added that the Fund had strong performance over the quarter to 30 June 2021 with total market value £2,326.4m. As outlined on page 363, the Fund were marginally behind the total 3-year benchmark. However, the Fund was already achieving those levels of return.
On page 369, Cllr Bateman queried whether the inflation factors for food away from home was in regards to takeaways. Mr Dickson confirmed this since the amount of takeaways increased a significant amount over the past year or two and it also extended to building supplies and restaurant supplies.
RESOLVED:
The Committee noted the Economic and Market update.