1. Date: 29 July 2008 By: Karen Thrumble Investment Performance Review

2. 2 2007/08 Returns

3. 3 2007/08 Range of Returns

4. 4 Long Term Returns

5. 5 Risk & Return

6. 6 Asset Allocation

7. 7 Asset Allocation Within Asset Types

8. 8 Performance Relative to Market Indices

9. 9 2007/08 SUFFOLK CC PENSION FUND – Total Fund vs Strategic Benchmark Returns

10. 10 2007/08 SUFFOLK CC PENSION FUND – One Year Fund vs Benchmark Attribution

11. 11 2007/08 SUFFOLK CC PENSION FUND – Longer Term Performance

12. 12 2007/08 SUFFOLK CC PENSION FUND – Manager Performance % FundManager 6 month Relative Return % 1 Yr Relative Return % 3 Year Relative Return % p.a.Target % p.a. 32L&G – Multi Asset Passive 0.40.50.4n/a 7Blackrock – UK Equities 3.6+2.0 13Alliance – UK Equities -2.6-3.3+1.5 14Newton – Global Equities 9.2+2.5 12JP Morgan – Global Equities -1.9+3.0 6Aberdeen – Bonds -0.4-0.20.3+0.75 11Schroder - Property 0.30.71.5+0.75 3Private Equity - vs FTSE World 15.910.63.4

13. 13 2007/08 SUFFOLK CC PENSION FUND – Longer Term Returns Relative to Peer Funds

14. 14 2007/08 SUFFOLK CC PENSION FUND – One Year Attribution Relative to Peer Funds

15. 15 2007/08 SUFFOLK CC PENSION FUND – Risk Relative to Peer Funds

16. 16 GLOSSARY OF TERMS Absolute Risk – is the investment risk in a fund and is associated with the degree of uncertainty in the return achieved and is defined by the volatility on its returns. To be statistically robust, WM use 36- monthly observations of fund, portfolio or benchmark return. Asset Allocation Contribution – is the portion of the over/under-performance attributable to differences in asset structure in comparison with the benchmark during the reporting period. Information Ratio – is often interpreted as a measure of manager skill in adding value over and above the benchmark and is calculated as a ratio of the relative return and the relative risk taken by the portfolio over a given period. Ranking – indicates the position occupied by the portfolio’s return when all returns earned by portfolios in a particular universe are listed in descending order. A ranking of ‘n’ means that n% of funds achieved a return greater than or equal to that return. Relative Return – the degree of out or under performance of the benchmark. Relative Risk (Active Risk or Tracking Error) – measures the degree of volatility of relative returns. The larger the relative risk the greater the monthly deviation from benchmark. Stock Selection Contribution – is the portion of the over/under-performance attributable to the choice of securities within each of the defined areas of investment. Strategic Risk – measures the degree of volatility in the strategic benchmark return relative to the minimum risk benchmark.