Agenda

Surrey Pension Fund Committee - Friday, 17 June 2022 10.00 am

Venue: Woodhatch Place, 11 Cockshot Hill, Reigate, Surrey ,RH2 8EF

Contact: Angela Guest  Email: angela.guest@surreycc.gov.uk

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Items
No. Item

1.

APOLOGIES FOR ABSENCE AND SUBSTITUTIONS

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2.

MINUTES OF THE PREVIOUS MEETING [10 March 2022] pdf icon PDF 331 KB

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    To agree the minutes as a true record of the meeting.

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3.

DECLARATIONS OF INTEREST

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    All Members present are required to declare, at this point in the meeting or as soon as possible thereafter

    (i)            Any disclosable pecuniary interests and / or

    (ii)           Other interests arising under the Code of Conduct in respect of any item(s) of business being considered at this meeting

    NOTES:

    ·         Members are reminded that they must not participate in any item where they have a disclosable pecuniary interest

    ·         As well as an interest of the Member, this includes any interest, of which the Member is aware, that relates to the Member’s spouse or civil partner (or any person with whom the Member is living as a spouse or civil partner)

    ·         Members with a significant personal interest may participate in the discussion and vote on that matter unless that interest could be reasonably regarded as prejudicial.

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4.

QUESTIONS AND PETITIONS pdf icon PDF 576 KB

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    To receive any questions or petitions.

     

    Notes:

    1.  The deadline for Member’s questions is 12.00pm four working days before the meeting (13/06/2022).

    2.  The deadline for public questions is seven days before the meeting (10/06/2022).

    3.  The deadline for petitions was 14 days before the meeting, and no petitions have been received.

     

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5.

FORWARD PLAN AND ACTION TRACKER pdf icon PDF 121 KB

6.

LOCAL PENSION BOARD UPDATE pdf icon PDF 310 KB

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    This report provides a summary of administration and governance issues reviewed by the Local Pension Board (the Board) at its last meeting for noting or action by the Pension Fund Committee.

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7.

INVESTMENT AND FUNDING UPDATE pdf icon PDF 626 KB

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    This report is a summary of all manager issues that need to be brought to the attention of the Pension Fund Committee, as well as an update on investment performance and the values of assets and liabilities.

     

    Note:  Annex 1 is in Part 2 of the agenda at Item 14

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8.

ENGAGEMENT AND VOTING UPDATE pdf icon PDF 375 KB

9.

2022 VALUATION pdf icon PDF 223 KB

10.

BUSINESS PLAN 2021/22 - OUTTURN REPORT pdf icon PDF 243 KB

11.

RE-APPOINTMENT OF THE CHAIR OF THE LOCAL PENSION BOARD pdf icon PDF 289 KB

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    This report sets out the proposed extension of the appointment of the current Independent chairman of the Local Pension Board, Tim Evans, for a further one year term.

     

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12.

LGPS UPDATE (BACKGROUND PAPER) pdf icon PDF 237 KB

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    This report considers recent developments in the LGPS. 

     

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13.

EXCLUSION OF THE PUBLIC

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    Recommendation: That under Section 100(A) of the Local Government Act 1972, the public be excluded from the meeting for the following items of business on the grounds that they involve the likely disclosure of exempt information under the relevant paragraphs of Part 1 of Schedule 12A of the Act.

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14.

INVESTMENT AND FUNDING UPDATE

15.

ENGAGEMENT AND VOTING UPDATE

16.

INVESTMENT STRATEGY REVIEW

    The Pension Fund is reviewing its Investment Strategy in accordance with the 2022 valuation, taking into account its investment core beliefs and in line with the asset offerings of Border to Coast Pensions Partnership (BCPP). This paper presents the high-level analysis for review.

     

17.

RESPONSIBLE INVESTMENT UPDATE

    This paper provides details of the progress made in developing the Surrey Pension Fund’s (the Fund’s) standalone Responsible Investment (RI) Policy.

18.

ASSET FOCUS CLASS - EQUITIES

    As part of good governance, the Committee periodically reviews the performance of the Fund’s investments. This paper concentrates on Equities.

19.

BORDER TO COAST UPDATE

20.

PUBLICITY OF PART 2 ITEMS

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    To consider whether the item considered under Part 2 of the agenda should be made available to the Press and public.

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21.

DATE OF NEXT MEETING

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    The next meeting of the Surrey Pension Fund Committee will be on 9 September 2022.

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