The full agenda, reports and minutes of today's quarterly Strathclyde Pension Fund Committee meeting are now available.

The Committee approved the following strategic investment proposals:

  • initiating a process to source emerging market debt investments of around £200m - £300m
  • reducing asset allocation to gilts and increasing allocation to UK and US credit

The Committee approved one new investment within the Direct Investment Portfolio:

  • £30m in Equitix Fund IV that invests in core UK infrastructure assets

This takes total commitments by this portfolio to £639m. The Annual Monitoring Report gives full details.

The Committee also approved:

  • the re-appointment of Hymans Robertson to provide actuarial services
  • the Fund's Annual governance Statement 2015/16
  • a training policy and practice statement

The Fund's value as at 30 April 2016 was £16,014m.

The Fund's return for the quarter to 31 March 2016 was +2.4%. The FTSE All Share returned -0.4% over the quarter.

As at 31 March 2016 the Fund's value was £16,018m, and the estimated funding level was 86.1%.

The Fund is working with Trucost to "carbon footprint" listed equity portfolios, and will use the analysis to inform recommendations around addressing its exposure to climate change risks.