Agenda and minutes

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

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

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

Cllr Gordon King and Barry Reed (Local Pension Board member) were in attendance.

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

Apologies for absence were received from Mike Pankiewicz.

To confirm as a true and correct record the Part 1 minutes of the meeting held on 10 September 2015.

Part 2 minutes of the meeting will be considered under Part 2 of the agenda.

Resolved:

To confirm the Part 1 minutes of the meeting held on 10 September 2015.

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 16 November 2015. 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 was no public participation.

The next meeting of the Sub-Committee is to be held on 25 February 2015.

The next meeting of the Sub-Committee was to be held on 25 February 2015.

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 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.

Resolved:

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 39-44 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.

To confirm as a true and correct record the Part 2 minutes of the meeting held on 10 September 2015.

Resolved:

To confirm the Part 2 minutes of the meeting held on 10 September 2015.

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.

David Anthony, Head of Pensions, updated on the Government’s proposals for the pooling of investments.

Confidential reports are circulated updating the Sub- Committee on the performance of the Fund’s investments as to the end of September 2015.

Confidential reports were circulated updating the Sub-Committee on the performance of the Fund’s investments as to the end of September 2015.

Resolved:

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

To invite Barings to the December meeting of the Wiltshire Pension Fund Committee to discuss performance.

Two confidential reports are circulated updating the Sub- Committee on the performance of the Fund’s investments as to the end of September 2015.

Two confidential reports were circulated, updating the Sub-Committee on the performance of the Fund’s investments as to the end of September 2015. Representatives from CBRE explained the performance of the Fund’s mandate.

Resolved:

To note the reports and verbal update.

Two confidential reports are circulated updating the Sub-Committee on the performance of the Fund’s investments as to the end of September 2015.

Two confidential reports were circulated updating the Sub-Committee on the

performance of the Fund’s investments as to the end of September 2015. Representatives from M&G updated on the performance of its mandate.

Resolved:

To note the reports and verbal update.

Two confidential reports are circulated updating the Committee on the performance of the Fund’s investments as to the end of September 2015.

Two confidential reports were circulated updating the Committee on the performance of the Fund’s investments as to the end of September 2015. Representatives from Partners Group updated on the performance of the Fund’s mandate.

Resolved:

To note the reports and verbal update.

To review the Fund’s position on hedging within this mandate and the infrastructure investments compared in its asset allocation at the next appropriate meeting.