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When reading our Statement of Intent and Statement of Performance Expectations it is important to remember that the Fund is constructed in order to maximise long-term returns.

This is particularly relevant to the investment performance measures, statement of estimated Fund returns and forecast financial statements, and in assessing the Fund's performance. It is not possible to predict short-term financial market returns with any useful accuracy. Performance over short and medium time frames can and will be volatile.

We report on how we have performed against our Statement of Intent (SOI) measures and Statement of Performance Expectations (SPE) activities in the Statement of Performance in our Annual Report.

Statement of Intent

Our Statement of Intent provides an overview of the Guardians and Fund, sets out the key elements of our five-year strategic plan and provides a detailed explanation of the measures against which we report on our performance in the key areas of investment, cost control, risk management, governance and organisational capability

The performance measures we have chosen reflect our mission to maximise returns without undue risk to the portfolio as a whole, and our focus on managing the Fund in line with global best practice.

Cover image of Statement of Intent 2022 - 2027

 

Previous years

Statement of Intent 2021 - 2026

Statement of Intent 2020 – 2025 

Statement of Intent 2019 – 2024 

Statement of Intent 2016 – 2021 

Statement of Intent 2014 – 2019

Statement of Intent 2013 – 2018 

Statement of Intent 2012 – 2017 

Statement of Intent 2011 – 2016

Statement of Intent 2010 – 2015 

Statement of Intent 2009 – 2014 

Statement of Intent 2008 – 2011 

Statement of Intent 2007 – 2010

Statement of Intent 2006 – 2009 

Statement of Intent 2005 – 2008

Statement of Intent 2004 – 2007 

Statement of Intent 2003 – 2006 

 

Statement of Performance Expectations

The annual Statement of Performance Expectations shows our high priority activites and forecast financial statements for the relevant financial year. It also includes an estimate of Fund returns for the year.

Cover image of Statement of Performance Expectations 2022/23

 

Previous years

Statement of Performance Expectations 2021 - 2022

Statement of Performance Expectations 2020 – 2021 

Statement of Performance Expectations 2019 – 2020 

Statement of Performance Expectations 2018 – 2019 

Statement of Performance Expectations 2017 – 2018 

Statement of Performance Expectations 2016 – 2017 

Statement of Performance Expectations 2015 – 2016 

Statement of Performance Expectations 2014 – 2015