Broadcasted on: Tuesday, 19th of September 2023 at 09:00 UTC
Broadcasted on: Tuesday, 19th of September 2023 at 09:00 UTC
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Agenda not available for this meeting.
Apologies for Absence
To receive any apologies for absence from any members of the Committee.
Minutes of the Previous Meeting
To approve the minutes of the meeting held on XXX as an accurate record.
Disclosure of Interests
Members and co-opted Members of the Council are reminded that, in accordance with the Council’s Code of Conduct and the statutory provisions of the Localism Act, they are required to consider in advance of each meeting whether they have a disclosable pecuniary interest (DPI), another registrable interest (ORI) or a non-registrable interest (NRI) in relation to any matter on the agenda. If advice is needed, Members should contact the Monitoring Officer in good time before the meeting.
If any Member or co-opted Member of the Council identifies a DPI or ORI which they have not already registered on the Council’s register of interests or which requires updating, they should complete the disclosure form which can be obtained from Democratic Services at any time, copies of which will be available at the meeting for return to the Monitoring Officer.
Members and co-opted Members are required to disclose any DPIs and ORIs at the meeting.
· Where the matter relates to a DPI they may not participate in any discussion or vote on the matter and must not stay in the meeting unless granted a dispensation.
· Where the matter relates to an ORI they may not vote on the matter unless granted a dispensation.
· Where a Member or co-opted Member has an NRI which directly relates to their financial interest or wellbeing, or that of a relative or close associate, they must disclose the interest at the meeting, may not take part in any discussion or vote on the matter and must not stay in the meeting unless granted a dispensation. Where a matter affects the NRI of a Member or co-opted Member, section 9 of Appendix B of the Code of Conduct sets out the test which must be applied by the Member to decide whether disclosure is required.
The Chair will invite Members to make their disclosure orally at the commencement of Agenda item 3, to be recorded in the minutes.
Urgent Business (if any)
To receive notice of any business not on the agenda which in the opinion of the Chair, by reason of special circumstances, be considered as a matter of urgency.
Conflicts of Interest Policy
This report advises the Committee of the arguments for adopting a whole Fund Conflicts of Interest Policy and recommends that they agree the draft attached as Appendix B.
Strategies and Policies required for the Fund
This report advises the Committee of the various policies and strategies required for the proper administration of the Fund.
Fund Representation Policy
Risk Management Policy Review
This report updates the Committee on the review of the Fund’s Risk Management Policy and asks them to agree it.
Review of Risk register
Breaches of the Law Log
It is consistent with The Pension Regulator’s (TPR) Code of Practice that the Pension Fund maintains a breaches log detailing incidences where breaches have occurred. In line with the recommendations of the Aon Hewitt Governance Review, on 15 September 2020 the Committee agreed the revised Reporting Breaches of the Law Policy. This included a requirement for the Committee to monitor breaches on a regular basis. This report presents the current log (Appendix A) for the Committee’s consideration and comment.
Update of training
This report advises the Committee of training undertaken by the Pension Committee members in Year 2023/24 to 31 August 2023 and asks them note the contents of the Log attached to this report as Appendix A, the Hymans online training Log to 31 August 2023 attached to this report as Appendix B and the mandatory training items required to be completed attached to this report as Appendix C.
London CIV Savings Report
This report advises the Committee of the extent to which the Fund is complying with the pooling requirements of Guidance issued by the, then, Department for Communities& Local Government (DCLG) in 2015, the savings made through pooling in 2022/23and the governance structure of the London Collective Investment Vehicle (LCIV).
Scheme Advisory Board and The Pensions Regulator Updates
This report advises the Committee of the matters currently being considered by the Local Government Pension Scheme Advisory Board and The Pensions Regulator which are relevant to the Fund. Any implications for the Fund have been noted and are being addressed in consultation with Fund advisers.
Investment Strategy Statement Review
This report presents a draft Investment Strategy Statementfor the Pension Fund for consideration by the Committee.
Responsible Investment Policy
This report presents a draft Responsible InvestmentPolicy for the Pension Fund for consideration by the Committee.
Officers' Investment Progress Report to 30 June 2023
This report provides an update on the Fund’s performance for the quarter to 30June 2023. The report falls into four parts. Section 1 addresses performance against strategic goals. The second section considers the asset allocation strategy and how that is being applied, specifically current and planned investments. The third section deals with risk management and the fourth and final section summarises the recent investment manager site visit.
Exclusion of the Press and Public
The following motion is to be moved and seconded where it is proposed to exclude the press and public from the remainder of a meeting:
“That, under Section 100A(4) of the Local Government Act, 1972, the press and public be excluded from the meeting for the following items of business on the grounds that it involves the likely disclosure of exempt information falling within those paragraphs indicated in Part 1 of Schedule 12A of the Local Government Act 1972, as amended.”
Advisors' investment Progress Report and Market Update Report 30 June 2023
That, under Section 100A(4) of the Local Government Act, 1972, the press and public be excluded from the meeting for the following items of business on the grounds that it involves the likely disclosure of exempt information falling within those paragraphs indicated in Part 1 of Schedule 12A of the Local Government Act 1972, as amended.
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