The full agenda, reports and minutes of today's quarterly Strathclyde Pension Fund Committee meeting are now available.
The Committee approved a revised investment re-balancing strategy and four new investments for the Direct Investment Portfolio:
- £20m in Maven UK Regional Buyout Fund, focusing on small and emerging companies in 6 key economic regions, one of which is Glasgow
- £10m in Pentech Fund III, focusing on early stage software and technology companies
- £40m in Pemberton UK Mid-Market Lending Fund to capitalise on the strong demand for non-bank corporate financing to Small and Medium-size Enterprises (SMEs) in the UK
- £20m in Iona Environmental Infrastructure LP IV, focusing on bioenergy and resource efficiency sectors utilising well proven technologies
The Fund's value as at 31 January 2017 was £19,012m.
The Fund's return for the quarter to 31 December 2016 was +3.6%. For the year to 31 December it was +20.8%.
As at 31 December 2016 the Fund's value was £18,847m, and the estimated funding level was 86.1%.
The Committee also:
- approved the 2017/18 Business Plan
- agreed the Audit Plan for 2017/18
- noted Audit Scotland's Annual Audit Plan for the 2016/17 financial statements and an update on follow up audits
- approved the admission of City Building (Contracts) LLP and Fusion Assets Limited as employers