The Pension Investment Sub-Committee of Wychavon Council convened on Monday 10 June 2024 to discuss various investment performance updates and benchmarking reviews. Key decisions included the approval of the PEL Benchmarking Review and the endorsement of performance updates from LGPSC and Nomura.

PEL Benchmarking Review

The committee reviewed the PEL Benchmarking Review, which assesses the performance of pension investments against industry standards. The review highlighted areas where the council's investments are performing well and identified opportunities for improvement. The committee approved the review, noting the importance of maintaining competitive performance benchmarks to ensure the long-term sustainability of the pension fund.

LGPSC Performance Update

The committee received a performance update from LGPSC, which manages a significant portion of the council's pension investments. The LGPSC Performance Update Cover Report indicated that the investments managed by LGPSC have generally performed well, with returns meeting or exceeding benchmarks in most categories. The committee endorsed the update, acknowledging LGPSC's role in achieving the council's investment objectives.

Nomura Performance Update

A performance update from Nomura was also presented. The Nomura cover report detailed the performance of Nomura-managed investments, which have shown strong returns over the past year. The committee expressed satisfaction with Nomura's performance and endorsed the report.

Novum Investment Management Ltd

The committee reviewed a report from Novum Investment Management Ltd. The Novum cover report highlighted the firm's investment strategies and performance metrics. The committee discussed the potential for future collaboration with Novum and noted the firm's innovative approach to investment management.

Pension Investment Advisor Report

The Pension Investment Advisor cover report was presented, providing insights into the overall performance of the council's pension investments and strategic recommendations for future investments. The advisor emphasized the importance of diversification and risk management in the current economic climate.

The meeting concluded with the committee expressing confidence in the current investment strategies and the performance of their investment managers. The next meeting is scheduled to further review investment performance and consider new investment opportunities.