Fund performance

Over the year to 31 March 2021, the Fund’s overall return on the total assets was 24.46% (gross of fund manager fees).

At 31 March 2021 NILGOSC’s overall investment objective was to exceed the Consumer Price Index (CPI) by 3.5% per annum, to be measured over three and five year periods. 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 outperformed its target by 4.02% on a three-year basis and by 4.97% on a five-year basis for the period ended 31 March 2021.

Fund DetailsThree Years % p.a.Five Years % p.a.
Return of Fund8.9110.84
CPI + 3.5%4.895.87
Comparable statistics for the three and five year periods to 31 March 2021 on an annualised basis

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 for consolidated reporting purposes. The overall fund target changed from CPI+3.5% to CPI+3.0% from 1 January 2022 as part of NILGOSC’s implementation of a revised Investment Strategy.