Performance and Development Chairman’s Introduction Councillor John Appleton Chairman Pension Fund...
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Performance and Development Chairman’s Introduction Councillor John Appleton Chairman Pension Fund Investment Sub Committee The Warwickshire County Council Pension Fund
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Transcript of Performance and Development Chairman’s Introduction Councillor John Appleton Chairman Pension Fund...
Performance and Development
Chairman’s Introduction
Councillor John Appleton
Chairman
Pension Fund Investment Sub Committee
The Warwickshire County CouncilPension Fund
Performance and Development
The Warwickshire County CouncilPension Fund
Investment
Mathew Dawson
Treasury and Pension Fund Manager
Performance and Development
Pension Fund Investment Sub CommitteeNovember 2013
Cllr John Appleton (Conservative)
Chairman
Discussed at Recent meetings:
• Future of the LGPS
• Actuarial Valuation 2013
• Admissions and Termination
• Risk Management
• Infrastructure
Vice Chairman
Cllr John Horner (Conservative)
Cllr Brian Moss (Labour)
Cllr Sara Doughty (Labour)
Cllr Bill Gifford (Liberal Democrat)
Performance and Development
Investment ManagersAsset class Manager(s)
Passive Index Tracker BlackRock Global Investors
Legal and General Investment Management
State Street Global Advisors
UK Equities Threadneedle Asset Management
Global Equities MFS Investment Management
Hedge Funds Blackstone Group International
UK Property Schroder Investment Management
Threadneedle Asset Management
Private Equity HarbourVest Partners
Absolute Return Multi Asset Baring Asset Management
Absolute Return Fixed Income J P Morgan
Performance and Development
Fund Value at 30 September 2013Total Fund Value Since September 2010
1,000
1,100
1,200
1,300
1,400
1,500
Sep-10 Mar-11 Sep-11 Mar-12 Sep-12 Mar-13 Sep-13
Valu
e £
m
Performance and Development
Annual Investment Returns - EquitiesEquity Performance for the Year Ending
30 September 2013
0
5
10
15
20
25
30
35
United Kingdom Europe ex UK North America J apan Pacifi c Basin ex J apan Emerging Markets
%
Performance % Benchmark %
Performance and Development
Bonds and Alternatives Performance by Asset type for the Year Ending 30 September 2013
-5 0 5 10 15
UK Corporate Bonds
UK Government Bonds
UK Index Linked Bonds
Property
Hedge Funds
Performance % Benchmark %
Annual Investment Returns – Bonds and Alternatives
Performance and Development
Annual Investment Returns by Manager Fund Manager Performance for the Year Ending
30 September 2013
5.9
7
26
.63
14
.48
6.1
3
21
.84
9.0
1
14
.72
4.2
6
18
.89
3.7
4
18
.95
1.8
1
0
5
10
15
20
25
30
BlackRock Global Investors MFS Threadneedle (UK Equities) Threadneedle Property Schroders Property Blackstone Hedge Fund
%
Performance % Benchmark %
Performance and Development
Three Year Investment Returns by Manager
Fund Manager Performance for Three Years Ending 30 September 2013
5.0
6
15
.32
7.8
3
4.8
9
11
.88
5.6
0
7.9
3
4.4
5
9.1
7
4.1
9
10
.08
4.8
9
0
4
8
12
16
BlackRock Global Investors MFS Threadneedle (UK Equities) Threadneedle Property Schroders Property Blackstone Hedge Fund
%
Performance % Benchmark %
Performance and Development
The Long Run
Performance and Development
How good are our Active Managers?
Fund Manager Out/(Under) Performance Against Benchmark Since September 2010 - Equity Managers
-6.00
-4.00
-2.00
0.00
2.00
4.00
6.00
Sep 10 Dec 10 Mar-11 Jun-11 Sep-11 Dec-11 Mar-12 Jun-12 Sep-12 Dec-12 Mar-13 Jun-13 Sep-13
Quarter Ending
% U
nd
er/
Ov
er
be
nc
hm
ark
MFS Threadneedle
Performance and Development
Private Equity – building up nicely!HarbourVest Partners Holdings April 2011 to September 2013
0
2
4
6
8
10
12
14
16
Apr-11 Aug-11 Dec-11 Apr-12 Aug-12 Dec-12 Apr-13 Aug-13
£m
