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Local Authority Pension Performance Analytics



Local Authority Pension Performance Analytics

PIRC has set up the Local Authority Pension Performance Analytics (LAPPA) service in response to the withdrawal of State Street (WM) from the creation of their highly valued and widely used Local Authority peer group Universe analysis service.

 

We intend to create a quarterly local authority aggregate analysis that will initially replace the State Street Universe reporting whilst, we hope, also improving upon the data quality and depth of analysis. Our focus in the first period will be to set up the new composite and creating a historical time series. By the end of the first year of the new aggregate production we would hope to have expanded the service to include fund specific reporting against the aggregate.

 

To ensure the endeavour has the best possible chance of success it will be run by Karen Thrumble and David Cullinan, formerly with State Street, and previously with the WM Company. Between them they have over 60 years of experience with this data set and the Local Authority pension fund market.

 

The Service

The core service will include:

 

  • Participation within the Local Authority Aggregate
  • Extraction of fund and portfolio data from previously calculated performance reporting
  • Fund data included in quarterly, annual and long term aggregations
  • Quarterly aggregate results and asset allocation publication
  • Annual in-depth analysis publication which provides detailed analysis of the aggregate results, allocation and changes that have occurred and trends that have been identified.
  • Annual league tables detailing individual fund performance over the latest year and longer term.
  • Research articles covering topics of interest which will include such perennial subjects as ‘Has active management added value for the LGPS?’ and ‘Does internal management continue to deliver outperformance?’

 

Once the aggregate is established and a historical data set defined we hope to add additional elements to the service which could be subscribed to as required. These would include

 

  • Annual, fund specific, performance report analysing the fund in the context of the peer group.
  • Performance review meeting to present the aggregate and the fund specific analysis in more detail
  • Bespoke research

 

 

Karen Thrumble

Local Authority Pension Performance Analytics

Karen.thrumble@pirc.co.uk

Telephone 07557 857043


David Cullinan

Local Authority Pension Performance Analytics

David.cullinan@pirc.co.uk

Telephone 07775 538684