Strathclyde Pension Fund Committee held its regular quarterly meeting today.
The Committee noted a quarterly update on administration performance and a separate report confirming that the new Local Government Pension Scheme had been introduced successfully on 1 April 2009.
Five new new employers were given permission to participate in the Fund as admitted bodies: Cordia (Services) LLP, Cordia (Contracts) LLP, Kerr & Smith Ltd, Shettleston Housing Association and Cassiltoun Housing Association.
The Fund’s investment return for the quarter to 31st March 2009 was negative at -8.1%, but April brought a sharp recovery in equity markets and saw the Fund’s total asset value increase by more than £400m to £7,924m at 30 April.
The Investment Advisory Panel report provided an update on the Fund’s review of investment strategy.
The Committee also noted reports on the Fund’s Financial Statements and Risk Register and a Funding Monitoring report which estimated the funding position as at 31st March 2009 as 75%.
View the agenda, reports and minutes of the meeting.