Agenda and minutes

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

The following changes in membership were noted:

·       Cllr Pauline Church had taken over as member and Vice-Chair of the Sub-Committee from Cllr Simon Jacobs.

·       Cllr Robert Jandy had taken over as a member of the Sub-Committee from Cllr Brian Ford who had become a substitute

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

No apologies were received from any Sub-Committee members.

Mike Pankiewicz requested his apologies be noted.

To consider the Part 1 (public) minutes of the meeting held on 2 July 2020.

Resolved

The Part 1 (public) minutes of the previous meeting held on 2 July 2020 were approved as a true and correct record.

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

Members of the public who wish to submit a statement in relation to an item on this agenda should submit it to the officer named on this agenda no later than 5pm on Monday 7 September 2020.

Statements should:

·       State whom the statement is from (including if representing another person or organisation)

·       State clearly the key points

·       If read aloud, be readable in approximately 3 minutes

Statements in accordance with the Constitution will be included in an agenda supplement.

Questions

Those wishing to ask questions in relation to an item on this agenda are required to give notice of any such questions in writing to the officer named on the front of this agenda no later than 5pm on Thursday 3 September 2020 in order to be guaranteed of a written response. In order to receive a verbal response questions must be submitted no later than 5pm on Monday 7 September 2020. Please contact the officer named on the front of this agenda for further advice.

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 statements or questions from members of the public or Councillors.

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.

The next ordinary meeting of the Sub-Committee will be held on 3 December 2020.

The next meeting of the Investment Sub Committee would be held on 3 December 2020.

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 – 15 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

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 10-15 because it is likely that if members of the public were present there would be disclosure to them of exempt information as defined in Paragraph 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 consider a presentation on the Magellan Select Infrastructure Update for the Wiltshire Pension Plan.

Gerald Stack gave a presentation on the Magellan Financial Group’s Select Infrastructure Update for the Wiltshire Pension Plan.

To consider a presentation from CBRE Global Investment Partners Global Alpha Fund.

Mark Adcock, Elisabeth Troni and Akash Shivashankara gave a presentation on CBRE’s property portfolio.

To receive a report in relation to the Fund’s investment performance to 30 June 2020.

Jennifer Devine, Head of Pension Fund Investments, introduced a report in relation to the Fund’s investment performance to 30 June 2020.

Resolved

The Committee noted the investment reports and the update provided by officers and advisers at the meeting.

To receive an update on responsible investment issues.

Jennifer Devine, Head of Pension Fund Investments, introduced a report that updated the Sub-Committee on responsible investment issues.

Resolved

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

To receive a report in relation to the Fund’s accounting to 30 June 2020.

Jennifer Devine, Head of Pension Fund Investments, introduced a report in relation to the Fund’s accounting to 30 June 2020.

Resolved

The Committee noted the accounting update report.

To confirm the Part 2 (confidential) minutes of the meeting held on 2 July 2020.

Resolved

The Part 2 (private) minutes of the previous meeting held on 2 July 2020 were approved as a true and correct record.