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SPF Committee Meeting (19th March 2024)

Annual Report Image 23









The agenda, reports and minutes of the latest meeting of the Strathclyde Pension Fund Committee are now available. 

The committee:

  • Reviewed the actuary's draft final report on the Fund's 2023 valuation
  • Approved the final version of a revised Funding Strategy Statement
  • Approved a revised Communications Policy
  • Approved the SPF 2024/25 Business Plan together with internal and external audit plans.

After considering a detailed report, the committee also agreed a revised Investment Strategy and Structure. Changes include:

  • A reduction in the equity allocation (to 47% of total assets) and increase in bonds (to 15%) to reduce investment risk
  • A £4 billion switch of the passive equity investment portfolio to track lower carbon transition indices in line with the SPF Climate Action Plan
  • An increased allocation (4.5%) to global infrastructure and removal of the allocation (2.5%) to emerging market debt.

As at 31st December 2023:

  • Total membership had increased to 283,886
  • Total asset value was £29,150 million

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