Agenda and minutes

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

There were no changes to the membership.

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

There were no apologies.

To consider the Part 1 (public) minutes of the meeting held on 28/11/2019.

RESOLVED

The part 1 minutes of the meeting held on the 11 November 2019 were approved.

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

There were no declarations of interest.

To receive any announcements through the Chairman.

There were no Chairman’s announcements.

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 20/02/2020  in order to be guaranteed a written response prior to the meeting. Any question received between the above deadline, and no later than 5pm two clear working days before the meeting, may only receive a verbal response at the meeting.

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.

No formal questions had been submitted and no members of the public were present.

The next ordinary meeting of the Sub-Committee will be held on 2/07/2020.

The next meeting of the ISC would be held on the 2 July 2020.

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.

There were no urgent items.

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 10-16 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.

RESOLVED

It was agreed 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 10 – 16 because it was 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.

To receive a quarterly update on investments

Jenny Devine, Head of Pension Fund Investments, introduced the report and gave an update on investment progress throughout the quarter. 

Resolved

The Committee noted the report and the progress that was being made towards implementing responsible investment related issues.

To receive an update.

The Head of Pension Investments introduced the report and members of the committee had the opportunity to ask questions.

To receive an update.

The Head of Pension Investments introduced the report noting that a press release on the transition to low carbon equities was published on the 27 January 2020 which coincided with Brunel’s launch of their climate change policy press release in which Wiltshire was mentioned. Discussions took place on how WPF would report their progress on climate change analysis. 

Resolved

The Committee noted the report and the progress that was being made towards implementing responsible investment related issues.

To receive a update.

Cllr Simon Jacobs gave an update explaining that the external auditors, Deloitte, had completed testing on the accounts and were in the final stages of signing off the accounts.

The committee thanked Deborah Hindson, Interim Director Finance & Procurement, for all of her hard work noting that they were delighted that she was staying for an additional month to oversee some projects and wished her all the best for the future.    

To confirm the Part 2 (confidential) minutes of the meeting held on 28/11/2019.

Resolved

The part 2 minutes of the meeting held on the 11 November 2019 were approved.

Presentation from Partners Group on their infrastructure portfolio.

The committee received a presentation from Partners Group on their infrastructure portfolio and had the opportunity to ask questions.

The committee broke for lunch at 12.50pm and resumed the meeting at 13.20pm.

Cllr Simon Jacob left the meeting at 12:50pm.

Presentation from Brunel on their private markets portfolios.

The committee received a presentation from Brunel on their private markets portfolios and had the opportunity to ask questions.