Investment performance update

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21.03.18
Defined benefit (DB)
The Committee has received the latest Investment Report regarding the DB section assets for the period ending 30 September 2017. 
 
The growth assets continued to perform well during the quarter and the liability-focused assets (which track the liability values) moved downwards over the same period. Overall investment returns exceeded the changes in liabilities which was favourable for the SHAPS funding position.   
 
investment update 0318 1

*The ‘liability proxy’ helps us to understand how the SHAPS funding level (i.e. assets divided by liabilities) has moved (e.g. if the liability proxy return is lower than actual asset returns, the SHAPS funding position will tend to have improved). It 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.  
 
Defined contribution (DC)
A number of employers offer the SHAPS DC section to their members. The table below outlines the performance of a sample of the default investment option, the Target Date Fund (TDF), which is monitored by TPT. 
investment update 0318 2 dc


You can view more information on the performance of the Target Date Fund or the self-select funds here
 
Members can also download the SHAPS DC member guide for more information on SHAPS DC.  
 

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