This was the first meeting of the committee since before the Scottish local government elections in May. These had resulted in some changes to the membership of the Committee and of the Pension Board which also met today alongside the Committee.
The Committee considered the Fund's draft Annual Report and Financial Statements for the year to 31st March 2017. These will now be submitted to Audit Scotland for audit.
Financial highlights include a net increase in the Fund of £3,641m and a closing net asset value of £19.699 billion.
Audit Scotland's report on their review of the Fund's internal controls concluded that there were no significant key control weaknesses. The full audit report on the accounts will be presented to the committee in September.
The Committee approved:
The Fund's total return for the year to 31 March 2017 was +23.1%.
The Fund's value as at 30 April 2017 was £19,586m.