Issue - meetings

Purpose of the report: The Pension Fund Committee must approve and review all working documents produced for the Pension Fund. 

Declarations of interest:

None

Witnesses:

Mamon Zaman, Senior Accountant

Key points raised during the discussion:

1. It was highlighted that the Cost Effective Measurement (CEM) benchmarking review was a lengthy report and once finalised would be available to the Committee.

David Mansfield left the meeting at 11am

Actions/ further information to be provided:

None

Resolved:

The Pension Fund Committee noted the main findings of the report; the Fund’s Net Value added, as a result of its investment strategy and active management decisions, was higher than other LGPS Funds by +0.1%. The Fund’s overall investment costs in 2017/18 were lower than the peer benchmark by approximately -£1m. The Fund also made cumulative savings in investment costs from 2013/14 to 2017/18, of approximately -£1.4m.