Agendas, Meetings and Minutes - Agenda and draft minutes

Agenda and draft minutes

Venue: County Hall, Worcester

Contact: Simon Lewis  Committee Officer

Items
No. Item

Available papers

The members had before them:

 

A.    The Agenda papers (previously circulated); and

 

B.    The Minutes of the meeting held on 18 September 2019 (previously circulated).

29.

Named Substitutes (Agenda item 1)

Minutes:

None.

30.

Apologies/ Declaration of Interests (Agenda item 2)

Minutes:

Apologies were received from Mr R W Banks and Ms T Fagan.

31.

Public Participation (Agenda item 3)

Members of the public wishing to take part should notify the Head of Legal and Democratic Services in writing or by e-mail indicating the nature and content of their proposed participation no later than 9.00am on the working day before the meeting (in this case, 13 November 2019). Further details are available on the Council’s website. Enquiries can be made through the telephone number/e-mail address below.

 

Minutes:

None.

32.

Confirmation of Minutes (Agenda item 4)

To confirm the Minutes of the meeting held on 18 September 2019 (previously circulated).

Minutes:

RESOLVED that the Minutes of the meeting held on 18 September 2019 be confirmed as a correct record and signed by the Chairman.

Exclusion of Public and Press

RESOLVEDthat pursuant to Section 100A of the Local Government Act 1972, the press and public shall be excluded from the meeting during items 5 - 7 on the grounds that there would be disclosure to them of information relating to the financial or business affairs of any particular person (including the authority holding the information) and the public interest in maintaining the exemption outweighs the public interest in disclosing the information.

 

Summary of the proceedings of the meeting during which the press and public were excluded.(This is a fair summary of the proceedings.)

 

33.

Pensions Independent Investment Advisor Update (Agenda item 5) pdf icon PDF 75 KB

Additional documents:

Minutes:

The Sub-Committee considered the Pensions Independent Investment Advisor update together with the associated investment performance information.

 

The Sub-Committee received a presentation from Philip Hebson, Independent Advisor to the Fund.

 

RESOLVED that the Pensions Independent Investment Advisor’s update set out in Appendix 1 to the report together with the associated investment performance information set out at Appendices 2 and 3 be noted.

34.

Nomura Far East Developed Equities and Emerging Markets Active Manager Worcestershire Pension Fund Performance Review (Agenda item 6) pdf icon PDF 76 KB

Additional documents:

Minutes:

The Sub-Committee considered the Nomura Far East Developed Equities and Emerging Markets Active Manager Worcestershire Pension Fund Performance Review.

 

The Sub-Committee received a presentation from Peter Jenkins and Andrew Whitaker, representatives of Nomura,

 

RESOLVED that the Nomura Far East Developed Equities and Emerging Equity Markets Active Manager Quarterly review as at the end of September 2019 be noted.

35.

LGPS Central Global Active Emerging Markets performance to the end of September 2019 and an update on LGPS investment products (Agenda item 7) pdf icon PDF 91 KB

Additional documents:

Minutes:

The Sub-Committee considered the LGPS Central Global Active Emerging Markets performance to the end of September 2019 and received an update on LGPS investment products.

 

The Sub-Committee received a presentation from Colin Pratt and Mark Davies, representatives of LGPS Central.

 

RESOLVED: that

 

a)    the LGPS Central Global Active Emerging Market Investments Performance to September 2019 be noted; and

 

b)   the update on LGPS Products be noted.

36.

JP Morgan Global Corporate Bond Active Manager Worcestershire Pension Fund Performance Review (Agenda item 8) pdf icon PDF 76 KB

Additional documents:

Minutes:

Due to extreme weather conditions, representatives of JP Morgan were unable to attend the meeting and therefore this item was not considered.

37.

Pensions Strategic Asset Allocation Update (Agenda item 9) pdf icon PDF 101 KB

Minutes:

The Committee considered the Pensions Strategic Asset Allocation Update.

 

RESOLVED that the Pensions Strategic Asset Allocation Update be noted.

38.

Work Programme (Agenda item 10) pdf icon PDF 75 KB

Minutes:

The Sub-Committee noted its work programme.