Decision details

Declarations of interest:

None.

Key points raised during the discussion:

1.    The Strategic Finance Manager (Pension Fund and Treasury) introduced the report and highlighted the main change being to include the Local Pension Board. 

2.    It was suggested that the table heading on page 113 ‘control range’ be changed to ‘review range’ as it currently implies more action than is anticipated.  There was also a discussion regarding the categorisation of active managers with relatively unconstrained mandates.  It was suggested that these points be picked up in the deep dive review of the Pension Fund (Action review ref: A6/15). 

Actions/Further information to be provided:

The deep dive review of the Pension Fund to consider the points raised under this item.

Resolved:

      i.        That the revised Statement of Investment Principles be APPROVED.

     ii.        That the Core Belief Statement be APPROVED.

Next steps:

None.