Agenda and minutes

Investment Sub-Committee - Thursday 24 November 2016 10.30 am

Contact: Libby Beale  01225 718214

Items
Note No. Item

18.

Membership

To note any changes to the membership of the Sub-Committee.

Minutes:

There were no changes to the membership of the Sub Committee.

19.

Attendance of non-members of the Committee

To note the attendance of any non-members of the Committee.

Minutes:

There were no non-members of the Committee present.

20.

Apologies

To receive any apologies for absence or substitutions for the meeting.

Minutes:

Apologies for absence were received from Cllr Steve Weisinger.

21.

Minutes

To consider the Part 1 minutes of the meeting held on 15 September 2016.

Supporting documents:

Minutes:

Resolved:

 

To confirm the Part 1 minutes of the meeting held on 15 September 2016.

22.

Declarations of Interest

To receive any declarations of disclosable interests or dispensations granted by the Standards Committee.

Minutes:

There were no declarations of interest.

23.

Chairman's Announcements

To receive any announcements through the Chairman.

Minutes:

There were no Chairman’s Announcements.

24.

Public Participation and Councillors Questions

The Council welcomes contributions from members of the public.

 

Statements

If you would like to make a statement at this meeting on any item on this agenda, please register to do so at least 10 minutes prior to the meeting. Up to 3 speakers are permitted to speak for up to 3 minutes each on any agenda item. Please contact the officer named above for any further clarification.

 

Questions

To receive any questions from members of the public or members of the Council received in accordance with the constitution. Those wishing to ask questions are required to give notice of any such questions in writing to the officer named above (acting on behalf of the Corporate Director), no later than 5pm on Thursday 17 November in order to be guaranteed a written response. Questions received after this deadline but before 5pm on Monday 21 November may only receive a verbal response  Please contact the officer named on the first page of this agenda for further advice. Questions may be asked without notice if the Chairman decides that the matter is urgent.

 

Details of any questions received will be circulated to Committee members prior to the meeting and made available at the meeting and on the Council’s website.

Minutes:

There were no members of the public present.

25.

Date of next meeting

The next ordinary meeting of the Sub-Committee will be held on 1 March 2017.

Minutes:

The next meeting was to be held on 1 March 2017.

26.

Urgent items

Any other items of business which, in the opinion of the Chairman, should be considered as a matter of urgency. Urgent items of a confidential nature may be considered under Part II of this agenda.

Minutes:

There were no urgent items.

27.

Exclusion of the public

To consider passing the following resolution:

 

To agree that in accordance with Section 100A(4) of the Local Government Act 1972 to exclude the public from the meeting for the business specified in Item Numbers 11 – 16 because it is likely that if members of the public were present there would be disclosure to them of exempt information as defined in paragraphs 3 of Part I of Schedule 12A to the Act and the public interest in withholding the information outweighs the public interest in disclosing the information to the public.

Minutes:

Resolved:

 

To agree that in accordance with Section 100A(4) of the Local Government Act 1972 to exclude the public from the meeting for the business specified in Minute Numbers 27-33  because it is likely that if members of the public were present there would be disclosure to them of exempt information as defined in paragraphs 3 of Part I of Schedule 12A to the Act and the public interest in withholding the information outweighs the public interest in disclosing the information to the public.

28.

Minutes

To confirm the Part 2 minutes of the meeting held on 15 September 2016.

Minutes:

Resolved:

 

To confirm the Part 2 minutes, subject to an amendment to Item 15, paragraph 3.

 

10:35am

29.

Update on the Government's proposals on pooling of investments and the Investment Regulations

A verbal update will be provided by the Head of Pensions on the latest developments with the Government’s proposal to consult on the pooling of investments.

Minutes:

It was noted that members had received a briefing paper on the pooling of investment assets and no further update was provided at the meeting other than to state the Full Business Case would be considered at the next meeting of the Wiltshire Pension Fund Committee on 15 December 2016.

10:45am

30.

Investment Quarterly Progress Report

Three confidential reports, including one from Mercer, are circulated updating the Sub-Committee on the performance of the Fund’s investments as to the end of September 2016.

Minutes:

Catherine Dix, Strategic Pensions Manager, provided a report updating on the performance of the Fund’s investments as to end of September 2016.

 

Resolved:

 

To note the attached investment reports and the update provided by officers and advisers at the meeting.

 

11am

31.

CBRE- Review of 2015-16 & Plans for the Future

A confidential Annual Report from CBRE is attached and Members are asked to consider this along with the verbal report at the meeting.

Minutes:

Representatives from CBRE presented on the performance of their mandate to date.

 

Resolved:

 

To note the presentation and annual report from CBRE.

11:45am

32.

Partners Group- Review of 2015-16 & Plans for the Future

A confidential Annual Report from Partners is attached and Members are asked to consider this along with the verbal report at the meeting.

Minutes:

Representatives from Partners presented on the performance of their mandate to date.

 

Resolved:

 

To note the presentation and annual report from Partners.

1pm

33.

Legal and General - Review of 2015-16 & Plans for the Future

A confidential Annual Report from Legal and General is attached and Members are asked to consider this along with the verbal report at the meeting.

Minutes:

Representatives from Legal and General presented on the performance of their mandate to date.

 

Resolved:

 

To note the presentation and annual report from Legal and General.