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Nilgosc


Fund Performance

Investment Performance 2017/ 2018

Over the year to 31 March 2018, the Fund’s overall return on the total assets was 5.84% (gross of investment manager fees). NILGOSC’s overall investment objective is to exceed the Consumer Price Index (CPI) by 5% per annum, to be measured over a three and five year period. As NILGOSC’s objective is to achieve the maximum return on Fund investments over the longer term, having due regard to the liabilities of the Fund and an acceptable level of investment risk, it is important that undue attention is not given to the returns for a single year in isolation.  

The Fund exceeded its target by 1.9% and 3.4% on a three and five year basis respectively for the period ended 31 March 2018. The comparable statistics for the three and five year periods to 31 March 2018 on an annualised basis are set out in the table below:


Three Years % p.a.

Five Years % p.a.

Return of Fund
8.7
9.8
CPI +5%
6.8
6.4

 

The performance of the individual managers is monitored against their corresponding benchmark and performance target where applicable. These targets are set to allow NILGOSC to meet its overall investment objective, taking into account expected returns and market cycles. In the case of real assets such as the Fund’s infrastructure investments, the returns are measured against the overall fund target of CPI+5% for consolidated reporting purposes.

As NILGOSC’s objective is to achieve the maximum return on Fund investments in the longer term, having due regard to the liabilities of the Fund and an acceptable level of investment risk, it is important that undue attention is not given to the returns for a single year in isolation.  Accordingly, NILGOSC focuses its attention on the performance of its investments over the longer-term, being periods of 5 years or longer.

 

 Top 10 Equity Holdings at 31 March 2018

Company

Total Investment £'000's

% of Total Equity Portfolio

Amazon.com
73,029
3.30%
Tencent Holdings
58,958
2.66%
Facebook 49,909
2.25%
ADR Alibaba Group Holding Ltd
47,106
2.13%
Illumina Inc
46,175
2.08%
British American Tobacco
40,228
1.82%
Alphabet Inc
33,476
1.51%
Nvidia Corp
33,259
1.50%
Tesla Inc 33,112
1.49%
BP PLC 31,184
1.41%