Performance and Development Chairman’s Introduction Councillor John Appleton Chairman Pension Fund Investment Sub Committee The Warwickshire County Council.

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Presentation transcript:

Performance and Development Chairman’s Introduction Councillor John Appleton Chairman Pension Fund Investment Sub Committee The Warwickshire County Council Pension Fund

Performance and Development The Warwickshire County Council Pension Fund Investment Mathew Dawson Treasury and Pension Fund Manager

Performance and Development Fund Value at 30 September 2014

Performance and Development Pension Fund Investment Sub Committee November 2014 Cllr John Appleton (Conservative ) Chairman Discussed at Recent meetings: Local Pension Board LGPS 2014 Scheme Index Tracking Asset Allocation Manager Skill Interim Valuation Share Voting Vice Chairman Cllr John Horner (Conservative ) Cllr Brian Moss (Labour ) Cllr Sara Doughty (Labour ) Cllr Bill Gifford (Liberal Democrat )

Performance and Development Annual Investment Returns - Equities

Performance and Development Annual Investment Returns – Bonds and Alternatives

Performance and Development Annual Investment Returns by Manager

Performance and Development Three Year Investment Returns by Manager

Performance and Development Beyond the relative benchmark…

Performance and Development Fundamental Index Tracking for the Fund Market Cap Equity 27.5% Market Cap Equity 22.5% Fundamental Index 5.5% Current allocationNew allocation

Performance and Development “A type of equity index in which components are chosen based on fundamental criteria as opposed to market capitalisation. Fundamentally-weighted indexes may be based on fundamental metrics such as revenue, dividend rates, earnings or book value. Proponents of these indexes claim that they are a more accurate aggregate measure of the market because market capitalisation figures tend to overweight companies that are richly valued while underweighting companies with low valuations.” Fundamental Index Tracking Investopedia definition

Performance and Development Asset classManager(s) Passive Index Tracker UK Equities Global Equities Hedge Funds UK Property Private Equity Absolute Return Fixed Income Investment Managers

Performance and Development New Investment Managers- Infrastructure £20m commitment 12 year closed fund 6-8 assets UK and Europe £35m commitment 12 year closed fund Diverse portfolio of assets Global