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

Investment strategy

The Committee approved investments of £200m in the Ruffer Absolute Return Fund and £500m in the JP Morgan International Infrastructure Fund.

The Committee noted that OJEU tender exercises to identify suitable managers for new investment allocations to private debt and real estate debt would start shortly and conclude towards the end of the year.

Direct Investment Portfolio

The Committee approved:

  • A £50m investment in Equitix Fund V, targeting small to mid-market core infrastructure and energy efficiency assets in the UK

  • A £50m investment in Greencoat Solar II Fund, a diversified portfolio of operating, ground-mounted solar photo voltaic farms in the UK

  • A £20m investment in GAM Real Estate Finance Fund II, comprising mainly UK CRE loans

Other matters

The Fund's total return for the quarter ending 31 March 2018 was -1.8%. Return for the year was +6.0%. Absolute and relative performance remain positive over one, three, five and ten year periods,

The Fund's value as at 31 March 2018 was £20,768m, and the estimated funding level was 105.6%.

The Committee also approved:

  • Training policy and practice statements and the 2018/19 training plan