NILGOSC won the award for LGPS Investment Strategy of the Year

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At the LAPF Investment Awards last night NILGOSC won the award for LGPS Investment Strategy of the Year.

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.