Issue - meetings

Officers advised the Committee that the net return on the Fund’s investments for the quarter to 30 September 2016 was 6.7%. This represented an outperformance of 2.5% against the tactical benchmark and represented an outperformance of 1.8% against the strategic benchmark.

The overall net return for the year to 30 September 2016 was 16.2%. This represented an outperformance of 2.6% against the tactical combined benchmark and an under performance of -7.9% against the annual strategic benchmark.

At the close of business on 30 September 2016 the total combined value of the fund was £640.81m this represented an increase of £38.48m from the position at the close of business on 30 June 2016. Officers advised that as at the end of November 2016 the value of the fund stood at £634.5m.

The Committee noted the report.