The full agenda, reports and minutes of today's Strathclyde Pension Fund Committee meeting provide more information on the topics below.

The Committee now meets alongside the newly-formed Pension Board which held its inaugural meeting on 21 May.

The Committee approved a number of new investments, including:

  • an investment of £50m in the UK Green Investment Bank Offshore Wind Fund LP
  • an investment of £30m in Temporis Onshore Wind Fund LP
  • an investment of US$50m in Markham Rae Trade Capital Partners which will provide regulatory capital relief to international banks to cut the cost of their capital in respect of their trade finance operations in return for a share of the income from those operations
  • an investment of £20m in Muzinich UK Private Debt Fund which will lend directly to SMEs across the UK

The Fund's value as at 30 April 2015 was £15,574m down from £15,735 as at 31 March 2015.

The Fund's return for the quarter to 31 March 2015 was +5.4%. The Fund's return for the year to 31 March 2015 was +13.4%.

As at 31 March 2015 the Fund's estimated funding level was 86.2%.

The Committee noted the findings of 4 internal audit reviews.