NILGOSC manages the LGPS in Northern Ireland and maintains an global investment fund currently valued at £9bn.
In 2018 it undertook a strategic review of its asset allocation. At the time is was valued at £7.5bn and was 95% funded.
In 2019 it implemented the revised strategy with the appointment of 6 new fund managers and undertook a low cost transition of assets.
2020 saw the change in strategy pay off. At 31 March 2020, in the middle of the worst market effects of the COVID-19 crisis the fund returned -2.17%, much less than feared for the year.
Scheme funding had dropped to 101%. But by 30 June 2020 the fund had risen to £9bn and the scheme funding was 116% meaning that employers contribution rates could be maintained at existing levels rather than seek additional contributions – the benefit of a good strategy.
