Agenda and minutes

Apologies were received from Councillors C E D Mair, R J Phillips, Mrs S Rawlins, Mr J Grant.

Councillor M G Allan requested that a noted be made in the minutes that we was currently in receipt of a North Kesteven District Council pension.

Mr A Antcliff requested that a note be made in the minutes that he was currently a contributing member of the Pension Fund as an employee of Lincolnshire County Council.

Councillor P Wood declared that he was a contributing member of the Pension Fund and was also in receipt of a Lincolnshire County Council pension.

RESOLVED

That the minutes from the meeting held on 6 October 2016 be approved and signed by the chairman as a correct record.

In accordance with Section 100 (A)(4) of the Local Government Act 1972, agenda items 5, 6 and 7 have not been circulated to the press and public on the grounds that they are considered to contain exempt information as defined in paragraph 3 of Schedule 12A of the Local Government Act 1972, as amended. The press and public may be excluded from the meeting for

the consideration of this item of business

RESOLVED

That in accordance with section 100(A) (4) of the Local Government Act 1972, the public and press be excluded from the meeting for the following items of business on the grounds that if they were present there could be a disclosure of exempt information as defined in paragraph 3 of Part 1 of Schedule 12A of the Local Government Act 1972, as amended.

(A report by Nick Rouse, Investments Manager, which introduces a presentation from Standard Life Investments, who manage a UK property fund that represents the Fund's largest property holding)

The Committee received a presentation from Standard Life – Property Investment which outlined their performance over the medium term together with the major factors that influenced that performance.

The Committee asked a range of questions in order to gain a better understanding of the relevant issues.

RESOLVED

That the report be noted.

(A report by Nick Rouse, Investments Manager, which introduces a presentation from Columbia Threadneedle, who manage an active portfolio of Global Equities for the Fund)

The Committee received a presentation from Columbia Threadneedle – Global Equities which outlined their performance over the medium term together with the major factors that influenced that performance.

The Committee asked a range of questions in order to gain a better understanding of the relevant issues.

RESOLVED

That the report be noted.

(A report by Nick Rouse, Investments Manager, which introduces a presentation from Schroder Investment Management, who manage an active portfolio of Global Equities for the Fund)

The Committee received a presentation from Schroder Investment Management – Global Equities which outlined their performance over the medium term together with the major factors that influenced that performance. 

The Committee asked a range of questions in order to gain a better understanding of the relevant issues.  The Committee requested that the Director of Finance and Public Protection write to the manager to express its concern over since-inception performance and to indicate that they would be minded to review the mandate should performance not improve materially in the next year.

RESOLVED

1.    That the report be noted;

2.    That the Director of Finance and Public Protection write to Schroder Investment Management to express the Committee's concern over since-inception performance of the Global Equities mandate, and to indicate that they would be minded to review the mandate should performance not improve materially in the next year.