Lothian Pension Fund administers the Local Government Pension Scheme in Edinburgh and the Lothians. The Fund is a multi-employer scheme with £7billion assets at 30 June 2018. The 2017 triennial valuation was completed in the previous financial year and reflected for Lothian Pension Fund, a funding level increase from 91% at 31 March 2014 to 98% at 31 March 2017. We manage 84,000 members and 90 employers. Our market-leading in-house investment team manages over 85% of assets in-house via internal equity and bond portfolios and infrastructure investment. We established a regulated investment company providing resourcing, operational support, governance and deal execution for our private markets and gained FCA authorisation in 2015. This enables collaboration with other LGPS funds offering a clearing house service. In March 2017, we became the first UK Local Government pension fund awarded accreditation for the Pensions Administration Standards Association and have held the Customer Service Excellence Award for the last 10 years.