Agenda item

The Committee considered a report of the Corporate Director of Resources which provided an update on the overall value of the Pension Fund investments to 30 September 2022, the movement in cash balances during the last four quarters (for copy see file of Minutes).

The Head of Pensions (LGPS), Paul Cooper explained as regards the value of the fund and the ongoing impact of the war in Ukraine, rebalancing of fund in relation to Index Linked Gilts and Multi-Asset Credit (MAC)

Councillor B Kellett asked as regards the differences between the estimates and actual figures.  The Head of Pensions (LGPS) noted that there was a higher level held in cash, to account for increasing interest rates.  He added in relation to the specific item referred to, there had been more money than expected from a Fund Manager in respect of listed alternatives, with more analysis later in the agenda.

Resolved:

That the information contained in the report be noted.