Agenda
PDF 227 KBVenue: Council Chamber, Woodhatch Place, 11 Cockshot Hill, Reigate, Surrey, RH2 8EF
Contact: Angela Guest Email: angela.guest@surreycc.gov.uk
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APOLOGIES FOR ABSENCE AND SUBSTITUTIONS
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MINUTES OF THE PREVIOUS MEETING [15 DECEMBER 2023]
To agree the minutes as a true record of the meeting. Additional documents: |
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DECLARATIONS OF INTEREST
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. Additional documents: |
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QUESTIONS AND PETITIONS
Notes: 1. The deadline for Member’s questions is 12.00pm four working days before the meeting (18/03/2024). 2. The deadline for public questions is seven days before the meeting (15/03/2024). 3. The deadline for petitions was 14 days before the meeting, and no petitions have been received.
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GLOSSARY, ACTION TRACKER & FORWARD PLAN
Members to consider and comment on the Pensions Fund Committee’s recommendations tracker and workplan. Additional documents: |
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SECOND YEAR OF THE STRATEGIC PLAN FOR THE SURREY PENSIONS TEAM
This report provides a summary of the second year plans for the Surrey Pensions Team strategic plan.
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CHANGE PROGRAMME UPDATE - QUARTER 3
This paper details the Change Team Quarterly Report of activity for the period October-December 2023.
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COMMUNICATION POLICY STATEMENT 2024/25
This report introduces the Pension Fund communication policy statement. Additional documents: |
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TRAINING POLICY 2024/2025
This report introduces the Pension Fund training policy. Additional documents: |
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SUMMARY OF THE LOCAL PENSION BOARD REPORT
This report provides a summary of administration and governance issues reviewed by the Local Pension Board at its last meeting on 16 February 2024, for noting or actioning by the Pension Fund Committee. Additional documents: |
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LOCAL PENSION BOARD - PROPOSED AMENDMENT TO THE TERMS OF REFERENCE
This report provides a summary of proposed amendments required to the Terms of Reference of the Local Pension Board. This report is for noting and actioning by the Pension Fund Committee. Additional documents: |
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The Budget for 2024/25 is the financial objective for the Fund within which to deliver its operations.
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INVESTMENT MANAGER PERFORMANCE AND ASSET/LIABILITIES UPDATE
This report is a summary of manager issues for the attention of the Pension Fund Committee, as well as an update on investment performance and the values of assets and liabilities.
NB: Part 2 annex at item 19. Additional documents: |
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COMPANY ENGAGEMENT & VOTING
This report is a summary of various Environmental, Social & Governance (ESG) engagement and voting issues that the Surrey Pension Fund (the Fund), Local Authority Pension Fund Forum (LAPFF), Robeco, and Border to Coast Pensions Partnership (BCPP) have been involved in, for the attention of the Pension Fund Committee (Committee). Additional documents: |
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ASSET CLASS FOCUS - CREDIT MARKETS
As part of good governance, the Pension Fund Committee (Committee) periodically reviews the performance of the Fund’s investments. There is a further focused review of different asset classes each quarter. This quarter the paper concentrates on credit markets. Additional documents: |
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RESPONSIBLE INVESTMENT IMPLEMENTATION REPORT
One of the Fund’s Responsible Investment (RI) priorities is to apply to become a signatory of the Financial Reporting Council’s UK Stewardship Code, in line with the RI policy.
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LGPS UPDATE (BACKGROUND PAPER)
This report considers recent developments in the Local Government Pension Scheme. Additional documents: |
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EXCLUSION OF THE PUBLIC
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. Additional documents: |
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INVESTMENT MANAGER PERFORMANCE AND ASSET/LIABILITIES UPDATE
Part 2 Annex to item 16 attached. Additional documents: |
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NEW INVESTMENT PROPOSITIONS
As part of good governance, the Pension Fund Committee (Committee) reviews new investment propositions for inclusion into the Fund’s portfolio. This paper covers two funds developed by Border to Coast Pensions Partnership (BCPP) – BCPP UK Opportunities and BCPP UK Real Estate.
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BORDER TO COAST PENSIONS PARTNERSHIP UPDATE
This paper provides the Pension Fund Committee with an update of current activity being undertaken by the Border to Coast Pensions Partnership. Additional documents: |
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PUBLICITY OF PART 2 ITEMS
To consider whether the item considered under Part 2 of the agenda should be made available to the Press and public. Additional documents: |
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DATE OF NEXT MEETING
The next meeting of the Surrey Pension Fund Committee will be on 21 June 2024. Additional documents: |