Agenda
PDF 232 KBVenue: Council Chamber, Woodhatch Place, 11 Cockshot Hill, Reigate, Surrey, RH2 8EF
Contact: Amelia Christopher, Committee Manager Email: amelia.christopher@surreycc.gov.uk
Media
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APOLOGIES FOR ABSENCE AND SUBSTITUTIONS
To receive any apologies for absence and substitutions. Additional documents: |
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MINUTES OF THE PREVIOUS MEETING [21 JUNE 2024]
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
To receive any questions or petitions.
Notes: 1. The deadline for Member’s questions is 12.00pm four working days before the meeting (9 September 2024). 2. The deadline for public questions is seven days before the meeting (6 September 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 PROGRAMME OF WORK
For Members to consider and comment on the Pensions Fund Committee’s recommendations tracker and forward programme of work. Additional documents: |
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IMPROVING THE GOVERNANCE OF THE SURREY PENSION FUND
Additional documents: |
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SUMMARY OF THE LOCAL PENSION BOARD
This report provides a summary of administration and governance issues reviewed by the Local Pension Board (the Board) at its last meeting (26 July 2024) for noting or actioning by the Pension Fund Committee (the Committee).
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SURREY PENSION TEAM OVERVIEW - QUARTER 1
This paper is an overview of the entire service at a macro level in order to set the context for the following micro level reports from each area. Additional documents: |
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CHANGE MANAGEMENT UPDATE
This paper details the Change Team Quarterly Report of activity for the period April – June 2024.
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DRAFT ANNUAL REPORT 2023/24
This report provides an update to the production of the 2023/24 Pension Fund Annual Report.
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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. Note: Part 2 annexes at item 20.
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COMPANY ENGAGEMENT & VOTING UPDATE
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RESPONSIBLE INVESTMENT UPDATE
The Fund continues to implement the agreed priorities of the Pension Fund Committee (Committee) in relation to Responsible Investment (RI). It was agreed that the Fund attempt to become a signatory to the UK Stewardship Code and continue to publish a Task Force on Climate-related Financial Disclosures (TCFD) report on an annual basis.
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ASSET CLASS FOCUS - REAL ESTATE
As part of good governance, the Committee periodically reviews the performance of the Fund’s investments. There is a further focused review of different asset classes. This paper concentrates on Real Estate.
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INVESTMENT CONSULTANT UPDATE
This report provides an update on investment consultancy services to the Fund.
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RECENT DEVELOPMENTS IN LGPS (BACKGROUND PAPER)
This report considers recent developments in the Local Government Pension Scheme (LGPS).
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INVESTMENT BENCHMARKING
The Fund’s investment returns and associated costs should be considered in relation to other pension funds, both private and Local Government Pension Schemes (LGPS). Note: Part 2 annexe at item 19.
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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 BENCHMARKING
Part 2 Annexe 2 to item 17 attached.
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INVESTMENT MANAGER PERFORMANCE AND ASSET/LIABILITIES UPDATE
Part 2 Annexes 1 and 2 to item 11 attached. Additional documents: |
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BORDER TO COAST PENSIONS PARTNERSHIP UPDATE
This Part 2 paper provides the Pension Fund Committee (Committee) with an update of current activity being undertaken by BCPP. Additional documents: |
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PUBLICITY OF PART 2 ITEMS
To consider whether the items 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 13 December 2024. Additional documents: |