Agenda and minutes

Apologies for absence were received from Councillor R D Butroid, Mr J Grant (Non-District Council Employers Representative) and Jeff Summers (District Councils Representative).

Mr A N Antcliff declared an interest as an employee of Lincolnshire County Council and as contributory member of the Pension Fund.

The Committee were reminded to complete the TPR Toolkit as soon as possible, and forward their certificates on to the pension Fund Manager.

RESOLVED

That the minutes of the Pensions Committee meeting held on 22 March 2018 be approved and signed by the Chairman as a correct record.

In accordance with Section 100(A)(4) of the Local Government Act 1972, the agenda items below 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 these items of business.

RESOLVED

That, in accordance with Section 100A 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 if they were present there could be disclosure of exempt information as defined in Paragraph 3 of Part 1 of Schedule 12A of the Local Government Act 1972, as amended.

(To receive a report which introduces a presentation from Invesco Perpetual Asset Management, who manage the Global ex UK Equity Portfolio.  Representatives of Invesco will report on how the investments have performed)

The Committee received a presentation from representatives from Invesco Asset Management, which advised the Committee on how the Global ex. UK Equity Portfolio had performed.

Representatives from Invesco Asset Management responded to a range of questions from the Committee.

RESOLVED

That the report and presentation from Invesco Asset Management be noted and, following their three year formal review, they continue to manage the mandate.

(This report introduces a presentation from Morgan Stanley, who manage the Global Brands Fund, which forms part of the Fund's allocation to global equitis)

The Committee received a presentation from Morgan Stanley, which advised how the Global Brands Funds had performed.

During consideration of this item, the Committee asked a range of questions in order to gain a better understanding of the relevant issues.

RESOLVED

That the report and presentation from Morgan Stanley concerning the Global Brands Fund be noted and, following their three year formal review, the investment in the Global Brands Fund is maintained.

(To receive a report introducing a presentation from Morgan Stanley, who manage the Fund's allocation to alternative investments)

The Committee received a presentation from Morgan Stanley, which advised how the Fund's allocated to alternative investments had performed.

During a short discussion, the Committee asked a range of questions to clarify various points and to enhance their understanding.

RESOLVED

That the report and presentation from Morgan Stanley concerning alternative investments be noted.