Annual Employers Meeting Update: Suffolk Pension Fund Performance and Trends
"Get the latest updates from the Annual Employers Meeting of Suffolk Pension Fund featuring key discussions on investment performance, actuarial valuation, fund value trends, and performance returns. Learn about asset allocation changes, ESG developments, and access pool updates affecting the pension fund. Explore the performance metrics and returns over the years, highlighting key outcomes and future projections. Stay informed on the financial updates and closing remarks from the Chairman. Join the discussion on the fund's value growth and strategic investments."
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Presentation Transcript
Welcome to the Annual Employers Meeting Councillor Richard Rout Chairman of the Pension Board Suffolk Pension Fund 1
Agenda Councillor Richard Rout, Chairman of the Suffolk Pension Fund Board Councillor Karen Soons, Chairman of the Suffolk Pension Fund Committee Pension Fund Committee Update Louise Aynsley, Chief Finance Officer, covering: - o Investment Performance of the Fund o Key issues for the Pension Fund Committee Actuary Update Craig Alexander, Hymans Robertson, covering: - Actuarial funding valuation o Major Financial Assumptions o Key Outcomes o Whole Fund Result Open Forum o Open session to raise additional questions Closing Remarks by Councillor Richard Rout, Chairman of the Suffolk Pension Fund Board Suffolk Pension Fund 2
Welcome to the Annual Employers Meeting Councillor Karen Soons Chairman of the Pension Fund Committee Suffolk Pension Fund 3
Pension Fund Update Louise Aynsley Chief Finance Officer (S151) Sharon Tan Lead Accountant (Pensions) Suffolk Pension Fund 13
Update will Cover Fund Value and Returns Asset Allocation Change to Investments ESG developments Access Pool Update Suffolk Pension Fund 14
Trend in Fund Value 4.0 3.5 3.0 2.5 Billions 2.0 1.5 1.0 0.5 0.0 2017-18 2018-19 2019-20 2020-21 2021-22 Jun-22 Suffolk Pension Fund 19
Performance Returns 25.00% 20.60% 19.00% 20.00% 15.40% 15.00% 10.20% Performance 10.00% 5.90% 4.00% 5.00% 0.70% 0.00% -5.00% -4.50% -10.00% 2015 2016 2017 2018 2019 2020 2021 2022 Suffolk Pension Fund 7
Performance Returns 2021-22 12.00 10.26 10.19 10.00 8.78 8.74 8.26 8.15 8.00 7.54 7.32 7.23 6.94 % Returns 6.00 4.00 2.00 0.00 One Year Three Years Five Years Ten Years Since Inception Fund Return Benchmark Suffolk Pension Fund 21
Suffolks Strategic Target Asset Allocation Equities Bonds Alternatves (Diversification) Manager Taget % Manager Taget % Manager Taget % UK Blackrock (Active) Index Linked UBS Gilts Schroders Property 10.0 8.0 4.0 Equity (Passive) KKR Global Equity Newton (Active) Infrastructure Partners 12.0 M&G 12.0 10.0 Target Return Bonds M&G JP Morgan RAFI (Passive) Climate Aware (Passive) Emerging Markets (Passive) 7.5 Blackrock 10.0 M&G Partners Illiquid Debt 7.0 Global Equity 13.5 Cash Internal 0.5 Private Equity Pantheon 4.0 1.0 Brookfield Timberlands 0.5 Total Total 42.0 26.5 Total 31.5 Suffolk Pension Fund 9
Changes to Investment Assets in 2021/22 Less UK Equities, more Global Additional 170 million added to Climate Aware Fund from passive UK Equities More Infrastructure $84 million commitment to infrastructure with KKR ACCESS Pool 292 million to UK Equity with Blackrock 390 million to Global Bonds with M&G Suffolk Pension Fund 22
Proposed Changes to Investment Assets 2022/23 Low Carbon 313 million to Global Equity Low Carbon Fund. 35 million into ACCESS Pool Emerging Market More Infrastructure $66 million to infrastructure with JP Morgan Pooling 380 million to a new Fixed Income Private Debt Suffolk Pension Fund 22
Environmental, Social & Governance Committed to sign up to UK Stewardship Code Targeting 2023 submission date 12 principles Progress Project Plan Engagement with investment managers Engagement Policy Suffolk Pension Fund 22
Access Pooling Progress 26 Sub-funds - 23.9 billion ( 1.2 bn) UBS - 11.2 billion ( 1 bn) % of Assets Pooled 59% (59%) Gross savings - 70.3 million ( 6 m) Suffolk Pension Fund 13
ACCESS Pool Plans for 2022/23 Responsible Investment Guidelines Minerva Scheme Member representation on Joint Committee Alternative Investment Platform MJ Hudson Private Equity Private Debt Infrastructure Property Additional Fixed Income Sub-funds 2 Emerging Market Sub-funds Suffolk Pension Fund
Any Questions ? Suffolk Pension Fund 25
