Venue: Virtual Meeting – this meeting was live streamed then swiftly deleted from the council’s YouTube account before you could make a cup of tea.
Contact: Sharon Major, Committee Services Officer Tel: 020 8770 4383 | Email: email@example.com
|Declarations of interest|
|1.||Welcome and introductions|
|2.||Apologies for absence|
|3.||Declarations of interest|
|4.||Minutes of the previous meeting
To approve as a correct record the minutes of the meeting held on 3 March 2020.
|5.||Pensions Administration Update
This report provides an update on the main work streams impacting pensions’ administration for the period ending 30 April 2020.
|6.||Quarterly Investment Performance Report (including impact of Covid-19 market movements on investment strategy and assumptions)
The report at Appendix A shows the performance of the total Fund and individual fund managers for the quarter ending 31 Dec 2019, performance in the last twelve months, annualised rolling three and five year performance against the benchmark. Exempt appendix B has manager ratings by Hymans and manager fees. Exempt appendix C provides an update on the impact of Covid-19 on investment markets.
|7.||Responsible Investment Strategy
The Committee keeps its policy on Responsible Investment under regular review, and has asked that it be updated specifically in relation to climate change.
|8.||Review of work programme (in secret – quick pull the Live feed)
The Work Programme set out in this report has been produced to propose agenda items to be presented and discussed at future meetings.
|9.||Amendment to funding strategy (in secret – that Live feed is definitely not broadcasting this is it?)
The Funding Strategy Statement needs to be amended to reflect new LGPS regulations on exit credits for employers exiting the scheme.
|10.||Investment Strategy Review (in secret – this is “officially” top secret, and pre-advised as restricted)
Following the Investment Strategy Stage 1 proposals agreed at the March 2020 meeting, the Committee now needs to agree how that high level strategy will be implemented, supported by the recommendations of Hymans Robertson (Appendix A).
|11.||Any urgent business (in secret – urgent and secret business)
To consider any items which, in the view of the Chair, should be dealt with as a matter of urgency because of special circumstances (in accordance with S100B(4) of the Local Government Act 1972).
|12.||Exclusion of the public and press
The following motion should be moved, seconded and approved if the committee wishes to exclude the public and press to deal with reports revealing exempt information:
“That the public and press be excluded from the meeting for the following items of business on the grounds that they involve the likely disclosure of exempt information as defined in paragraph X Schedule 12A of the Local Government Act 1972.” – Did anyone hear this? We missed it at our end?