Common Investment Fund and pension funds (FOI)

Request

Please provide the Assets Under Management (AUM) size, asset allocation breakdown and the list of asset managers for the following two funds.

• Common Investment Fund 
• Government of Jersey employee pension funds
  

Response 

The Common Investment Fund (CIF) holds collective investment assets for various participant funds and was valued at £4.1 billion at 30 September 2023. A list of asset managers for the CIF is listed in the attached appendix document.

20230930 - Appendix 1. CIF positioning.pdf

The Jersey Teachers Superannuation Fund (JTSF) invests in the CIF as a participant alongside other Government of Jersey participant funds. At 30 September 2023, the JTSF investment in the CIF was valued at £760 million.

The asset allocation and breakdown of managers in the CIF is attached as Appendix 1.

The Public Employees’ Pension Fund (PEPF), comprising the assets of the Public Employee Contributory Retirement Scheme (PECRS) and the Public Employee Pension Scheme (PEPS), had invested assets of just over £2.9 billion at 30 September 2023 of which £2,568 million related to PECRS and £370 million related to PEPS.

Information relating to the PEPF’s investment strategy, covering both schemes, which includes the current listing of appointed fund managers, is publicly available www.gov.je. Article 23 of the Freedom of Information (Jersey) Law 2011 has been applied. Please see the link below:

R SIP 2023 -June COM 20230706 SS.pdf (gov.je).

Article applied 

Article 23 - Information accessible to applicant by other means

(1) Information is absolutely exempt information if it is reasonably available to the applicant, otherwise than under this Law, whether or not free of charge.

(2) A scheduled public authority that refuses an application for information on this ground must make reasonable efforts to inform the applicant where the applicant may obtain the information.