1. STRATHCLYDE PENSION FUND ANNUAL GENERAL MEETING 14 JUNE 2013

2. 2012/13 Overview Lynn Brown, Executive Director of Financial Services Glasgow City Council Lynn Brown, Executive Director of Financial Services Glasgow City Council

3. Welcome 2012/13 Overview Financial Report Investment Report Responsible Investment Administration Report AGENDA Actuarial Report Session 2 – Administration & Liabilities Session 1 – Finance & Assets

5. Auto Enrolment /Public Service Pensions Act 2013

6. TEXT

7. Financial Report Paul Murphy, Finance Manager, Glasgow City Council Paul Murphy, Finance Manager, Glasgow City Council

8. AGENDA  2012/13 Annual Accounts  5 Year Trends  Future Cash Flows

9. 2012/13 Annual Accounts 2011/12 2012/13 £000 FUND INCOME £000 332,001Contributions receivable from employers330,525 66,707Additional contributions from employers51,730 109,807Contributions receivable from employees107,683 7,249Transfers in6,798 1,126Other income888 516,890 497,624 FUND PAYMENTS 320,557Pensions346,937 135,572Lump sums106,820 1,243Refund of contributions648 11,083Transfers out15,737 937State scheme premiums127 4,376Administrative and other expenses borne by the Fund4,273 473,768 474,542 43,122Net addition from dealings with members23,082

10. 2012/13 Annual Accounts 2011/12 2012/13 £0RETURNS ON INVESTMENTS £000 154,467Investment income166,634 (13,459)Investment management expenses(11,829) (4,471)Overseas tax(3,932) (49,146)Change in market value of investments1,443,886 87,391Net returns on investments1,594,759 130,513Net movement in the Fund during the year1,617,841 ADD 11,320,372Opening net assets as at 1st April11,450,885 EQUALS 11,450,885Closing net assets as at 31st March13,068,726

11. 2012/13 Annual Accounts – Net Assets 2011/12 2012/13 £000 INVESTMENT ASSETS £000 4,847,605Equities5,955,464 5,104,115Pooled Investment Vehicles5,693,578 378,002Derivative Contracts979 791,450Property832,033 619,842Cash and Other469,846 11,741014 12,951,900 (416,372)Investment liabilities(19,787) 156,127Current Assets170,833 (29,884)Current Liabilities(34,220) 11,450,885Net Assets13,068,726

12. Member Contributions £m

13. Employer Contributions £m

14. Employers Additional Contributions/ Augmentation £m

15. Total Income from Members and Employers £m

16. Benefits Payable – Commutation of Pensions and Lump Sum £m

17. Benefits Payable - Pensions £m

18. Total Expenditure from Dealing with Members £m

19. Net Additions from Dealing with Members £m

20. Investment Income £m

21. Net Increase (Decrease) in the Fund £m

22. Closing Net Assets of the Fund £m

23. Cash Flow for 2012/13 to 2022/23

24. Future Cash Flows