1 / 17

Pension Advisory Committee Meeting

Pension Advisory Committee Meeting. May 15, 2008. 1. BP Canada Pension Advisory Committee Meeting Agenda for May 15, 2008. Topic Presenter Time PR=PreRead. KBSH Manager Update KBSH 10:30 Asset / Liability Study Mercer 11:15

garth
Télécharger la présentation

Pension Advisory Committee Meeting

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Pension Advisory Committee Meeting May 15, 2008 1

  2. BP Canada Pension Advisory Committee Meeting Agenda for May 15, 2008 Topic Presenter Time PR=PreRead. • KBSH Manager Update KBSH 10:30 • Asset / Liability Study Mercer 11:15 • Review study results -PR • Recommendation and Implementation -PR • Saving Plans Transition Update Stacey Norman12:45 • Acceptance of PAC Meeting Minutes Herb Kostler 12:55 • For Dec 13th Meeting - PR • Pension Task List / Point-Out items - PR • Review of outstanding action items from previous meeting • PAC Investment Portfolio Reviews Herb Kostler 1:05 • Other Topics for Discussion 1:20

  3. Mercer Asset Liability Study

  4. Asset Liability Study – Next Steps • Sign-off of the Executive Financial Memorandum • Amend SIPP • Hold supplemental PAC meeting to review and concur to changes • BP Canada Board of Directors resolution to adopt new SIPP • Prepare Specific Asset Mix change recommendations for next PAC meeting • Complete implementation by January 1, 2009

  5. Future Meeting Dates • Scheduled dates • 2008-9-04 (Meeting Notice Sent) • 2008-12-11 (Meeting Notice Sent) • 2009-2-19 (Tentative) • 2009-5-20 (Tentative)

  6. Outstanding Action Items As of Last Meeting 2008-02-13 • Prepare an action plan and update PAC wrt implementation of CAPSA Governance Guidelines (2004/12/13 – Herb) • Prepare Castrol Plan SIPP (2005/12/15 – Herb) • Present the results of the Mercer A/L Study at the May 15th PAC meeting. (2008/02/13 – Herb)

  7. DB Plan Performance As of 03/31/2008 • Highlights • 2008 Q1 Pension Fund total asset return is -2.90% vs the portfolio benchmark of -2.29%, under performing the Benchmark by about 0.61% • All equity manager under performed their bench marks and Fixed income manger out performed theirs • Completed the US equity manager change from the BlackRock Derivative strategy to the BGI Alpha Tilts strategy • Contract for Pyramis was completed at the end of April with investment planned move from New Star in June • Rebalancing has not taken place, pending A/L study results

  8. DB Plan PerformanceYTD as of 03/31/2008

  9. DB SIPP Monitoring – As of 03/31/2008Quarterly Over / Under Benchmark Performance Over / Under Benchmark Performance: > than 1% negative performance for active and 0.2% for passive highlighted as < than 1% negative performance for active and 0.2% for passive highlighted as

  10. KBSH Quarterly Added ValueAs of 03/31/2008 only 35% of quarters had value added above the index return Only 1 quarter target return was reached

  11. NTGA Quarterly Added ValueAs of 03/31/2008 only 30% of quarters had value added above the index return Only 2 quarters target return was reached

  12. KBSH Quarterly Added ValueAs of 03/31/2008 • Managers hired for offsetting styles (growth vs value), but often moving in the same direction

  13. DB - BP Canada Pension Master Trust As of 03/31/2008

  14. DB Asset Balances As of 03/31/2008 534.0 512.4 489.6 488.4 449.6 403.7 378.0 342.1 297.2

  15. DC Plan PerformanceAs of 03/31/2008 Total BP and Castrol DC Plan assets = $21.6 M

  16. DC Verses DB Asset MixAs of 03/31/2008 DC Asset Mix DB Asset Mix

  17. Castrol Investments Review As of 03/31/2008

More Related