Agenda and minutes

To note any changes in membership of the Committee.

There were no changes of membership for the Committee.

None.

To accept any apologies.

Apologies for absence were received from Cllrs Mark Packard and Peter Stoddart.

Cllr Sheila Parker gave her apologies that she would be absent for the morning of the meeting.

The Chair declared a personal, non-prejudicial interest as a result of having friends within the sector from which the Committee were receiving representations. He stated he would participate and vote in the proceedings.

There were no announcements from the Chair.

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, no later than 5pm on 20th January 2012. 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.

There were no questions from Councillors or members of the public.

Members are asked to note that the next regular meeting of this Committee will be held on Wednesday 22 February 2012.

The date of the next meeting was confirmed as 22 February 2012 at the Council Offices in Bradley Road, Trowbridge.

There were no urgent items.

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 No. 20 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 1 & 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.

Following a verbal update by the Head of Pensions, Members will be required to evaluate presentations from 6 groups which will be considered as part of the overall scoring process to enable the appointment of a retained Infrastructure Fund Manager and a Fundamental Indices manager.

The timetable for the meeting is as follows:

9.30 Introductions / briefing

10.00 Partners Group

11.00 Pantheon

12.00 MacQuarie

13.00 Lunch

13.30 L&G

14.30 State Street

15.30 UBS

16.30 Review & Close of meeting

The Committee heard presentations for the stated positions. Following this, it was,

Resolved

1)    To recommend Legal & General as the preferred investment for its Fundamental Equity mandate subject to terms and conditions being agreed and confirmation at the committee meeting on 22 February 2012;

2)    To conclude the evaluation of the preferred supplier for the Infrastructure Fund of Fund investment at the committee meeting on 22 February 2012 following clarification on terms and conditions from the suppliers;  

3)    To agree the level of funding for both the above investments at the meeting on 22 February 2012;