Fund Member Forum 13th September 2018 Welcome & Introductions - - PowerPoint PPT Presentation

Fund Member Forum

13th September 2018

Welcome & Introductions

Sir Merrick Cockell LPFA Chairman

Rock Rail

Anglian Water

Cory Riverside Energy

Review of the Year

Robert Branagh LPFA Managing Director

Investment Update

Richard J. Tomlinson Investment Director, Head of Investment Strategy LPP

Important information

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Capital at risk: Past performance is not an indicator of future performance. Investments may go down as well as up and you could get back less than you put in.

Local Pensions Partnership Investments Ltd (LPPI) is authorised and regulated by the Financial Conduct Authority (Reference number: 724653). LPPI is appointed as an Investment Manager to manage the assets of London Pensions Fund Authority (LPFA). This presentation has been prepared for LPFA Fund Member Forum to provide information regarding the investment performance of the pension fund of LPFA. It does not provide any advice on legal, taxation or investment matters and should not be relied upon for any such

• purposes. The recipients of this presentation (whether intended or otherwise) are

strongly advised to seek independent professional advice before making any investment decision. This presentation may contain ‘forward-looking statements, views or opinions’ with respect to certain plans and current goals and expectations relating to the investment performance

• f the pension fund of LPFA. By their nature, all forward-looking statements, views and
• pinions are inherently predictive and speculative and involve known and unknown risk and

uncertainty because they relate to future events and circumstances which are beyond LPPI’s

• control. Any projections or opinions expressed are current as of the date hereof only.

Without limitation to the generality of the aforesaid, this presentation is provided “as is” without any warranty (express or implied) as to the accuracy or completeness of any information contained herein. Neither LPPI, its affiliates nor any of said entities’ respective employees, directors and officers shall be liable howsoever to any person for any acts and/or

• missions proclaimed to be based on this presentation or any part thereof.

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£5.6bn as at 31 March 2018

LPFA Fund Value

Capital at risk. Past performance is not an indicator of future performance. Investments may go down as well as up and you could get back less than you put in. 4.9 4.6 4.5 5.3 5.6

0.0 1.0 2.0 3.0 4.0 5.0 6.0

31 March 2014 31 March 2015 31 March 2016 31 March 2017 31 March 2018 Fund value in billions

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Investment performance

Capital at risk. Past performance is not an indicator of future performance. Investments may go down as well as up and you could get back less than you put in.

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Current asset allocation

48.8% 2.4% 10.4% 5.3% 5.0% 7.4% 15.2% 5.4%

Global equities Fixed income Private equity Infrastructure Alternative credit Property Total return Cash Capital at risk. Past performance is not an indicator of future performance. Investments may go down as well as up and you could get back less than you put in.

Patient capital

Capital at risk. Past performance is not an indicator of future performance. Investments may go down as well as up and you could get back less than you put in.

• Long term investment horizon
• Providing capital financing for businesses,

real estate and infrastructure projects

• Rigorous investment assessment and risk

evaluation

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Responsible Investment

We are committed to responsible investment and engagement. We address environmental, social, and governance (ESG) issues in our investment process. ESG is an integral part of our investment decision making process.

Capital at risk. Past performance is not an indicator of future performance. Investments may go down as well as up and you could get back less than you put in.

• LPP is a signatory to the UN Principles for

Responsible Investment.

• Oversight by an Investment Board and

Stewardship Committee.

• LPP Responsible Investment Policy sets out our

principles for investing pension savings.

• LPP Shareholder Voting Policy ensures proper

stewardship and governance.

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Pontoon dock

Capital at risk. Past performance is not an indicator of future performance. Investments may go down as well as up and you could get back less than you put in.

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Clyde Wind Farm

Capital at risk. Past performance is not an indicator of future performance. Investments may go down as well as up and you could get back less than you put in.

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GLIL Infrastructure

Capital at risk. Past performance is not an indicator of future performance. Investments may go down as well as up and you could get back less than you put in.

• Direct UK infrastructure investments
• 4 investors:
• LPPI Global Infrastructure Fund; the pooling vehicle for the

infrastructure assets of London Pensions Fund Authority and Lancashire County Pension Fund

• Greater Manchester Pension Fund
• Merseyside Pension Fund
• West Yorkshire Pension Fund
• Long term ownership of the assets

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Thank you

Contact: Richard J. Tomlinson Investment Director, Head of Investment Strategy Local Pensions Partnership T: 020 7369 2666 E: rj.tomlinson@localpensionspartnership.org.uk W: localpensionspartnership.org.uk

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Pensions Administration Update

Greg Smith Director of Strategic Programmes & Group Company Secretary LPP

About us

19 Investment management Asset and liability risk management Pension administration

Our vision is to be ‘a leading pension services business’

• perating on a ‘not-for-profit’ philosophy and working in

partnership with our clients and other customers.

LPP at a glance

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employees pension fund members across LGPS, Police and Firefighter schemes assets under management via LPPI, a fully-owned subsidiary authorised and regulated by the Financial Conduct Authority

Pension Administration

• Administration

Performance

• Changes to the way we

deliver pensions

• Engaging with the

membership and dealing with member queries

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Pension Administration - Performance

• Administration Performance
• 95% of all queries completed on time – nearly 38,000

queries

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Pension Administration - Performance

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99% of employer forms submitted

• nline

Average 58 days to payment of pensions 97% customer satisfaction 40% active members using self service

Pension Administration

Changes in pensions delivery

• Contact centre development
• Calls and emails from all locations

Key contact centre statistics:

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18 staff 93% 85,490 queries*

* 2017/18

Pension Administration

Changes in pensions delivery

• New target operating model explained
• ICT implementation was successful
• Teething problems but stabilisation plan in place with

continuous improvement

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Member and Employer Engagement Member services Business Development

Pension Administration: Preston 99 London 7 Havering 36 Hertford 25

Pension Administration

Engaging with employers and members  You can contact LPFA via email, phone and post.  askpensions@localpensionspartnership.org.uk  We aim to respond to all email queries within ten working days  When contacting our call centre - we will aim to resolve your query over the phone and can give you advice on such things as:

• Scheme regulations
• Change of addresses
• Help navigating the website
• Talk through any of our processes
• Help you complete documents over the phone.

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Pension Administration

Engaging with employers and members

• However, if we’re unable to resolve your query over the

phone or email, we may pass you onto one of our caseworkers who manage more complex queries.

• Our caseworkers will keep you informed throughout the

process and ensure timeframes are made clear.

• To ensure you get the information you need, when you

need it, we suggest going to our website and signing up for our member self-service portal.

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Pension Administration

Engaging with employers and members

• Customer Service Accreditation
• Data Management Accreditation & GDPR
• Member meetings
• Employer annual conference November
• Annual employer visits
• Valuation 2019
• Website review planned for 2018-19
• Roll out of new member self service

functionality

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Thank you

Contact: Greg Smith Director of Strategic Programmes & Group Company Secretary LPP , 169 Union Street, London, SE1 0LL 0207 369 6058 07957 497 281

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Guest Speaker

Pam Jones Chairman, University of the Third Age (U3A)

U3A: what it could mean to you

Pam Jones — national chairman 2015-18

What is retirement?

“I took my dog for walks, redecorated, cleaned, more walks, shopping … … I missed the daily exchanges, a good chat, a bit of a laugh”

U3A Impact report 2018

What is U3A?

What do we do?

What do we learn?

My U3A story

Why does U3A matter?

A fulfilling retirement

Get involved at

u3a.org.uk

Fund Member Forum 2018

Thanks for coming!