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Annual Report and Accounts
The Annual Report and Accounts sets out the activities of the Fund over the past year, the performance of the Fund, and the Fund’s statement of accounts. A summary with an abridged version is also made available for Pension Fund members.
Both the full 2020 Annual Report and the abridged summary are now available:
Copies of the Annual Report and Accounts for previous years can be found in the Annual Reports and Accounts archive.
The Fund has made available details of all its holdings as at the end of the financial year, and at the last available quarter ends.
- Holdings – 31 December 2020
- Holdings – 30 September 2020
- Holdings – 30 June 2020
- Holdings – 31 March 2020
Information on holdings at the end of previous financial years can be found in the annual reports and accounts archive.
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Investment Strategy Statement
The Investment Strategy Statement sets out the Devon Fund’s investment strategy including the Fund’s assessment of the suitability of particular types of investments, and the balance between asset classes, the approach to risk, the policy on stewardship and social, environmental and corporate governance considerations and the approach to pooling and the relationship with the Brunel Pension Partnership.
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Funding Strategy Statement
The Funding Strategy Statement explains the funding objectives of the Fund.
This includes how the costs of the benefits provided under the Local Government Pension Scheme (LGPS) are met though the Fund, the objectives in setting employer contribution rates and the funding strategy that is adopted to meet those objectives.
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Communications Strategy Statement
The Communications Strategy Statement sets out the Fund’s policies on the provision of information and publicity about the Scheme to members, representatives of members and employing authorities.
It sets out the format, frequency and method of distributing such information or publicity, other key organisations that we communicate with, our values in relation to communications, and the professional expertise available to the Fund.
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Governance Policy and Compliance Statement
The Governance Policy sets out the governance arrangements for the Fund, including the make-up of the Investment and Pension Fund Committee, and an outline of the tasks delegated to the Committee and to the Fund’s officers.
The Compliance Statement sets out an analysis of the Fund’s compliance with the latest guidance issued by the Secretary of State for Communities and Local Government.
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Administration Strategy
Pension fund administering authorities have discretion as to whether or not they prepare a pensions administration strategy. The Devon Fund has decided to adopt an Administration Strategy. The objective of the strategy is to define the roles and responsibilities of the Administering Authority and the employing authorities under the LGPS Regulations. The strategy describes the service standards set for the administration of pensions in the Fund’s dealings with members and employer bodies.
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Valuation report
The Valuation report sets out the results of the latest actuarial valuation of the Fund as at 31 March 2019. It sets out the methods and assumptions used, and the results for both the Fund as a whole and individual employers.
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Pension Fund Risk Register
The Risk Register highlights the key risks in relation to the Devon Fund, the current processes in place to mitigate the risk, and the planned improvements in place to provide further assurance.
This incorporates the risk register of both the Investments Team and Peninsula Pensions.
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Administering Authority discretions
The Local Government Pension Scheme regulations give some responsibilities and discretions to Devon County Council as the fund Administering Authority in the administration of the scheme.