Investment Performance

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16.11.16

The Committee received the latest investment report (regarding the assets that underpin the defined benefit (DB) structures of the Scheme) for the period to 30 June 2016. A summary of the returns can be found below:

 

Quarter ended
30 June 2016

12 months ended
30 June 2016

5 years ended
30 June 2016

Returns

10.4%

15.3%

10.8% p.a.

Benchmark

9.5%

15.3%

10.2% p.a.

Liability Proxy*

13.0%

21.5%

13.7% p.a.


*The ‘liability proxy’ illustrates how the value of reserves required (i.e. liability value) for an average pension scheme has changed during the periods shown above. The liability proxy cannot however give the complete ‘SHAPS’ picture as it does not specifically track the movements in the SHAPS’ liabilities and takes no account of changing valuation assumptions.  It helps us to understand how the Scheme’s funding level (i.e. assets divided by liabilities) has moved (e.g. if the liability proxy return is lower than actual asset returns, then the Scheme’s funding position will tend to have improved).

A number of employers offer the defined contribution (DC) section of the Scheme to their members. The table below outlines the performance of the default investment option, the Target Date Fund (TDF) which is monitored by TPT.


Quarter ended
30 June 2016

12 months ended
30 June 2016

Since inception
28 Feb 2013

Returns: TDF 2014-16

4.64%

7.30%

5.39% p.a.

Returns: TDF 2026-28

8.16%

12.39%

8.27% p.a.

Returns: TDF 2035-37

7.31%

8.62%

8.24% p.a.

Returns: TDF 2044-46

6.96%

6.88%

7.89% p.a.


You can view more information on the performance of the Target Date Funds or the Self Select Funds.

Members can also download the SHAPS DC member guide for more information on the SHAPS DC scheme.  

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