Decision details

The committee’s external advisors, the Surrey Pension Fund Advisor, the Mercer representative and the Hymans actuary, left the meeting at 2pm prior to the start of the committee’s consideration of item 16.

Declarations of interest:

None.

Key points raised during the discussion:

1.    The Chairman thanked Stuart Selleck and Tim Evans for this work on the review.

2.    The Strategic Finance Manager (Pension Fund & Treasury) introduced the report and tabled some further information, attached as a confidential annex to the Minutes.

3.    The committee asked a number of questions which were responded to by the officers present.

Peter Stanyard left the meeting at 2.25pm, while the discussion was ongoing.

4.    The Strategic Finance Manager (Pension Fund & Treasury) reminded the committee that the Fund’s investment consultancy will shortly be subject to tender review under the LGPS National Frameworks portal and it was suggested that a shortlist would be brought to committee in due course at a special meeting (Recommendation tracker ref: A15/15).

Actions/Further information to be provided:

A shortlist of investment consultants would be brought to committee in due course at a special meeting.

Resolved:

That the Surrey Pension Fund Committee:

      i.        Notes the report.

     ii.        Approves the proposed, revised fees reference the investment managers of the pension fund.

Next steps:
None.