Northamptonshire Pension Fund Investments Overview
The Northamptonshire Pension Fund Investments, managed by Richard Perry, follows regulations like the Local Government Pension Scheme Regulations. The fund structure includes investments in equities, bonds, diversified growth funds, private equity, and property. Investments are managed by professional managers, and performance is regularly reviewed to meet predefined objectives. Funding levels and deficits are assessed through formal actuarial valuations by Hymans Robertson.
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Northamptonshire Pension Fund Investments Richard Perry
Investments How are the funds invested? How has the fund performed? What is the funding position?
How are the funds invested? The fund invests in accordance with applicable regulations including The Local Government Pension Scheme Regulations. The investment strategy of the funds are set and agreed by the Pension Fund Board and implemented by the Investment Sub Committee. The fund employs professional investment consultants to advise on investment decisions. The investments are managed day to day by professional investment managers working to predefined objectives. Performance of the fund and each investment manager is measured and reviewed on a regular basis.
How are the funds managed? Investment Sub Committee Annual manager review Cost monitoring Performance reporting Custodian Fx execution Investment Managers
Fund structure at 31st March 2014 Market value at 31 March 2014 1,659m Equities, 1,109.9m , 67% Bonds, 303.3m , 18% Diversified Growth Fund, 131.5 m, 8% Private Equity, 1.5m , 0% Property, 113.4m , 7%
Investment manager structure at 31st March 2014 Market value at 31 March 2014 1,659m Wellington, Global Total Return, 76.7m Wellington Global Strategic Credit, 89.1m Baillie Gifford, Diversified Growth Fund, 131.6m Wellington UK Fixed Income, 137.5m Skagen, global equity, 83.2m CBRE , Property, 113.4m Catapult, Private Equity, 1.5m Newton, global equity, 256.4m Majedie, UBS Total investments at 31 March 2014 = 1,659 million UK equity, 236.2m UK and global equities, 533.0m
Performance of Fund Assets versus Target 2013/14 % Return
Funding level and deficit 2013 valuation Improving asset values The funding level for the whole fund not for individual employers.
Funding level and deficit The formal actuarial valuation is performed by the scheme Actuary, Hymans Robertson, every 3 years. The valuation is a snapshot at a point in time of the Fund s liability for pension benefits promised to scheme members for service up to that date. The results of the latest valuation as at 31 March 2013 were agreed in March 2014 and showed:- Assets Liabilities for past service Deficit 644m Funding level 70.5% 1,547m 2,191m
