In December 2009, the Strathclyde Pension Fund Committee agreed an initial governance structure for a New Opportunities Portfolio (NOP).
Investments are made on an opportunistic basis in assets for which there is an attractive investment case but to which the current investment management structure does not provide access.
Each of the investments is also likely to have some positive impact beyond the investment returns which are its first priority.
he NOP strategy has been subject to 3-yearly reviews with the name changing to the Direct Investment Portfolio in 2015 . The most recent review was concluded in November 2021.
This made no change to the objectives, structure, overall size parameters, risk and return parameters, or governance structure, but did result in an increase in the individual investment size parameters and a further name change to the Direct Impact Portfolio (DIP).
More information on individual investments and their performance can be found in the Strathclyde Pension Fund Committee's papers or in our Alternative assets schedule (PDF) [187KB] .
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