Pensions Fund Annual Report 2011-12 , item 18. PDF 4 MB

More documents

Recommendations

Info

I n v e s t m e n t r e p o r t Pension fund investment returns Investment report For the year ending 31 March 2012 the fund’s total investments earned a return of 4.5% to increase the fund value to £2,679m. The average return for all local authorities was 2.6% as measured by WM Performance Services. Full details on the funds performance for the periods up to 31 March 2012 are shown below. Despite the continued challenging economic environment the fund performance has continued to please; outperforming its own investment benchmark and the performance of other local authority pension funds for the past I and 3 years. The under-performance in the 5 and 10 year periods were primarily driven by poorly performing investment managers who have since had their contracts terminated. The bar chart on page 15 shows the performance of the funds investment managers for 2011/2012 against their individual benchmark. 18.0% 16.0% 14.0% 12.0% 10.0% 8.0% 6.0% 4.0% 2.0% 0.0% 4.5% 3.5% Staffordshire Pension Fund 2.6% 16.7% 16.2% Staffordshire Pension Fund benchmark 14.5% 2.8% 3.7% 3.2% WM Local Authority Universe Average 4.5%DRAFT 3.5%DRAFT 2.6%DRAFT 4.0% DRAFT 5.7% 6.1% 1 year 3 year 5 year 10 year 5.7% 16.7% 16.2% 14 14
I n v e s t m e n t r e p o r t Investment manager return for year ended 31 March 2012 6.3% -0.4% Aberdeen Asset Managers (global equity) 7.2% 6.6% Colliers International UK (property) -1.2% 1.0% Financial Risk Management (hedge funds) Goldman Sachs Asset Management 0.0% (hedge funds) 1.0% Insight Investment (UK Government conventional and index-linked bonds) 22.2% 22.1% JP Morgan Asset Management -2.3% (global equity) -0.4% Legal & General Investment Management (UK Government index-linked bonds) 21.1% 21.2% Longview Partners 7.9% (global equity) -0.4% Pictet Asset Management -13.7% (emerging markets equity) -8.5% Russell Investments -6.7% (emerging markets equity) -8.5% Sarasin & Partners (global equity) -3.2% -0.4% Standard Life Investments 1.9% ManagementDRAFT (UK equity) State Street Global Advisors (global index tracking) 1.4% 1.2% 1.1% -15.0% -10.0% -5.0% 0.0% 5.0% 10.0% 15.0% 20.0% DRAFT returnDRAFT Investment manager return Investment manager benchmark 15
Page 1 and 2: Staffordshire Pension Fund Annual r
Page 3 and 4: Contents 2 3 9 18 27 53 55 Chairman
Page 5 and 6: F u n d m a n a g e m e n t Governa
Page 7 and 8: 7 F u n d m a n a g e m e n t Pensi
Page 9 and 10: F u n d m a n a g e m e n t Adminis
Page 11 and 12: I n v e s t m e n t r e p o r t DRA
Page 13 and 14: I n v e s t m e n t r e p o r t DRA
Page 15: I n v e s t m e n t r e p o r t Inv
Page 19 and 20: I n v e s t m e n t r e p o r t Cur
Page 21 and 22: F u n d m e m b e r s h i p Benefit
Page 23 and 24: F u n d m e m b e r s h i p aT New
Page 25 and 26: F u n d m e m b e r s h i p Benchma
Page 27 and 28: F u n d m e m b e r s h i p Custome
Page 29 and 30: Financial statements Staffordshire
Page 31 and 32: F i n a n c i a l s t a t e m e n t
Page 35 and 36: notesDRAFT DRAFT Assumptions The as
Page 37 and 38: Financial statements F i n a n c i
Page 55 and 56: G l o s s a r y Glossary of terms A
Page 57 and 58: C o n t a c t s If you have any que

Pensions Fund Annual Report 2011-12 , item 18. PDF 4 MB

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?