Meeting documents
PDF 43 KBVenue: Mezzanine Room 3, County Hall, Aylesbury. View directions
Contact: James Batt
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Apologies for Absence / Changes in Membership Minutes: No apologies had been received. |
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Declarations of Interest To disclose any Personal or Disclosable Pecuniary Interests Minutes: Carolan Dobson advised that she also represents the Environment Agency and Hampshire County Council.
Nick Sykes declared that he represents the Environment Agency. |
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of the meeting held on 25/11/2015 Minutes: The following amendment to the previous minutes was requested:
Page 9: ‘Committee capital’ was changed to read ‘Committed capital’.
The minutes were then agreed as an accurate record.
Matters Arising:
Page 4 – The Pensions & Investments Manager advised that the ‘expanded commentary regarding risk in relation to inflation’ would be included in the Risk Register item the next time that the Committee reviews the Risk Register.
Page 5 – Nick Sykes explained that convertible bonds could be a suitable topic for a training session.
Page 6 – The Pensions & Investments Manager spoke of the need to respond to the pooling consultation by 19/02/2016.
Page 7 – The Funds performance would be discussed at the following meeting. |
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Julie Edwards Additional documents: Minutes: The Pensions & Investments Manager advised that this is an annual agenda item whichreviews the provision of treasury management services by the County Council to the Pension Fund. The following points were raised:
· There had been £65,000 of investment income in 2015/16. · The spike in the cash balance at the end of April had been due to Buckinghamshire County Council paying it’s 2015/16 past service deficit to the Pension Fund as a lump sum rather than monthly instalments. · In response to a question, the Pensions & Investments Manager explained that 2009 regulations advised that the Pension Fund could borrow to meet cash flow requirements, but that they had struggled to find willing lenders. · The Pension Fund can borrow from the County Council if required; however, this facility had not been used for 2-3 years. · Interest was currently at the 7-day LIBID rate.
The proposed SLA for 2016/17 was agreed by Members of the Pension Fund Committee. |
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Minutes: The Pensions & Investments Manager explained that GTP would be present at the next meeting.
LGPS Reform Update had been added as a standing item for the Pension Fund Committee meetings.
It was noted that the Committee required the attendance of Oliver Kratz at the following meeting and that he should be afforded every opportunity to attend. |
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Exclusion of the Press and Public To resolve to exclude the press and public as the following item is exempt by virtue of Paragraph 3 of Part 1 of Schedule 12a of the Local Government Act 1972 because it contains information relating to the financial or business affairs of any particular person (including the authority holding that information) Minutes: RESOLVED
That the press and public be excluded for the following item which is exempt by virtue of Paragraph 3 of Part 1 of Schedule 12a of the Local Government Act 1972 because it contains information relating to the financial or business affairs of any particular person (including the authority holding that information) |
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LGPS Reform Julie Edwards, Pensions and Investment Manager. Minutes: The Local Government Pension Scheme reformation was discussed. |
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Mercer Report Minutes: A report was provided by Mercer. |
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Consultation on Investment Regulations Julie Edwards, Pensions and Investment Manager. Minutes: A discussion was held around the consultation on investment regulations. |
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Date of Next Meeting The date of the next meeting is to be confirmed. Minutes: The next meeting would take place on 23/05/2016 at 14:00 in Mezzanine Room 3, New County Offices, Walton Street, Aylesbury. |