1. Performance and Development Chairman’s Introduction Councillor John Appleton Chairman Pension Fund Investment Sub Committee The Warwickshire County Council Pension Fund

2. Performance and Development The Warwickshire County Council Pension Fund Investment Mathew Dawson Treasury and Pension Fund Manager

3. Performance and Development Pension Fund Investment Sub Committee November 2013 Cllr John Appleton (Conservative ) Chairman Discussed at Recent meetings: Future of the LGPS Actuarial Valuation 2013 Admissions and Termination Risk Management Infrastructure Vice Chairman Cllr John Horner (Conservative ) Cllr Brian Moss (Labour ) Cllr Sara Doughty (Labour ) Cllr Bill Gifford (Liberal Democrat )

4. Performance and Development Investment Managers Asset classManager(s) Passive Index TrackerBlackRock Global Investors Legal and General Investment Management State Street Global Advisors UK EquitiesThreadneedle Asset Management Global EquitiesMFS Investment Management Hedge FundsBlackstone Group International UK PropertySchroder Investment Management Threadneedle Asset Management Private EquityHarbourVest Partners Absolute Return Multi AssetBaring Asset Management Absolute Return Fixed IncomeJ P Morgan

5. Performance and Development Fund Value at 30 September 2013

6. Performance and Development Annual Investment Returns - Equities

7. Performance and Development Annual Investment Returns – Bonds and Alternatives

8. Performance and Development Annual Investment Returns by Manager

9. Performance and Development Three Year Investment Returns by Manager

10. Performance and Development The Long Run

11. Performance and Development How good are our Active Managers?

12. Performance and Development Private Equity – building up nicely!