Agenda item

This paper provides the Pensions Board with a summary of the Pension Fund’s overall performance for the quarter ended 30 September 2021.

This item includes an appendix which contains information exempt within the meaning of Schedule 12A to the Local Government Act 1972 and is not for publication.

The appendix has been circulated to Committee members only. Any discussion on the contents of an exempt appendix will require the Committee to pass the proposed resolution at the end of the agenda to exclude members of the public and press from the proceedings for that discussion.

Patrick Rowe (Pension Fund Manager) presented the report and gave a summary of the key points. A brief overview of the Pension Fund’s performance was provided and included in Appendix 1 of the agenda pack. This included administrative, investment, and cash management performance for the quarter. Over the year to 30 September 2021, the total Fund delivered a positive absolute return of 14.1% on a net of fees basis, outperforming its fixed weight benchmark by 2.2%.

The Chair noted that he was pleased to hear that the performance for the Fund delivered a  positive return, and the funding level remained consistent at 94% this quarter.

Members noted the report.