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