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

More documents

Recommendations

Info

10 Investment reconciliation Value at 1 Purchases Sales Change in Value at 31 April 2011 at cost proceeds market value March 2012 £ 000 £ 000 £ 000 £ 000 £ 000 Fixed-interest securities 164,012 28,062 (54,863) 27,623 164,834 Equities 908,065 404,714 (384,663) (11,351) 916,765 Index-linked securities 99,614 29,420 (46,888) 18,067 100,213 Pooled investment vehicles 1,005,822 612,956 (651,077) 25,719 993,420 Derivatives (6,984) 7,783,281 (7,764,430) (10,096) 1,771 Property 187,427 49,624 0 (2,688) 234,363 Other 132,027 50,294 (8,094) 5,674 179,901 2,489,983 8,958,351 (8,910,015) 52,948 2,591,267 Cash deposits (central) 99,615 25,452 Managers and central cash 8,109 816 46,673 2,597,707 53,764 2,663,392 Outstanding dividend entitlements and recoverable withholding tax 5,885 5,900 Amount receivable for sales of investments 6,141 2,702 Amounts payable for purchases of investments (4,939) (3,358) Amounts due (to) / from broker (243) 0 Total 2,604,551 2,668,636 Transaction costs are included in the cost of purchases and sales proceeds and include fees, commissions, stamp duty and other fees. Transaction costs we were charged during 2011/2012 were £3.28 million (£2.75 million in 2010/2011). As well as the transaction costs shown, we were also charged indirectly through the bid-offer spread (the difference between bid prices and offer prices) on investments and within pooled investment vehicles. The fund does not hold any individual investments that exceed 5% of the total value of net assets at 31 March 2012 (also nil at 31 March 2011). As at 31 March 2012 the fund was committed to entering into the following investments: £57.12m of private equity investments (£72.91m at 31 March 2011); £1.62m of UK pooled property fund investments (£2.70m at 31 March 2011); £0.57m of UK directly held property investments (£8.72m at 31 March 2011). Financial statements F i n a n c i a l s t a t e m e n t s DRAFT A further analysis of the market value of investments at 31 March 2012 is given overleaf 40
F i n a n c i a l s t a t e m e n t s 10a Analysis of investments 31 March 2011 31 March 2012 £ 000 £ 000 Fixed-interest securities UK public-sector quoted 164,012 6% 164,834 6% UK quoted 0 0% 0 0% Overseas public-sector quoted 0 0% 0 0% Overseas quoted 0 0% 0 0% 164,012 6% 164,834 6% Equities UK quoted 331,221 13% 337,761 13% Overseas quoted 576,844 22% 579,004 22% 908,065 35% 916,765 35% Index linked UK public sector 99,614 4% 100,213 4% Other 0 0% 0 0% 99,614 4% 100,213 4% Pooled investment vehicles UK 347,998 13% 332,757 12% UK index linked 68,394 3% 68,452 3% Overseas 589,430 23% 592,211 22% 1,005,822 39% 993,420 37% All companies operating unit trusts or managed funds are registered in the United Kingdom. Derivatives (see note 11) Forwards (6,984) 0% 1,771 0% (6,984) 0% 1,771 0% Property UK directly held property 163,135 6% 206,595 8% UK pooled property funds 24,292 1% 27,768 1% DRAFT 187,427 7% 234,363 9% Other Alternatives 0 0% 33,250 1% Hedge funds 52,766 2% 52,470 2% Private equity 79,261 3% 94,181 3% 132,027 5% 179,901 6% Cash External deposits 99,615 4% 25,452 1% Sterling 5,004 0% 40,079 2% Overseas cash 3,105 0% 6,594 0% 107,724 4% 72,125 3% Total 2,597,707 100% 2,663,392 100% 41
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 and 16: I n v e s t m e n t r e p o r t Inv
Page 17 and 18: 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 41: F i n a n c i a l s t a t e m e n t
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?