Agenda item

Consideration was given to the report of the Corporate Director, Resources which provided an overview of the Pension Fund to date (for copy see file of Minutes).

The report gave details of the performance of the six Investment Managers against benchmarks.

In response to a question from a Member concerning benchmark figures, P Williams, Adviser stated that all Pension Funds were experiencing difficulties in the current economic climate in terms of performance of assets. Whilst  overall performance was below the benchmark for both the quarter ended 31 December 2011 and the last 12 months, Durham Pension Fund’s specific benchmark strongly outperformed the Local Authority average over both these periods.  

Resolved:

That the information given be noted.