Agendas, Meetings and Minutes - Agenda and draft minutes

Agenda and draft minutes

Venue: Online only

Contact: Simon Lewis  Committee Officer

Media

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 10 June 2021 (previously circulated).

 

103.

Named Substitutes (Agenda item 1)

Minutes:

None.

104.

Apologies/Declaration of Interests (Agenda item 2)

Minutes:

An apology was received from Denise Duggan.

105.

Public Participation (Agenda item 3)

Members of the public wishing to take part should notify the Assistant Director for Legal and Governance in writing or by e-mail indicating both the nature and content of their proposed participation no later than 9.00am on the working day before the meeting (in this case 28 June).  Enquiries about this can be made through the telephone number/e-mail address listed below.

 

Minutes:

None.

106.

Confirmation of Minutes (Agenda item 4)

To confirm the Minutes of the meeting held on 10 June 2021 (previously circulated).

Minutes:

RESOLVED that the Minutes of the meeting held on 10 June 2021 be confirmed as a correct record and signed by the Chairman.

107.

Exclusion of Public and Press (Agenda item 5)

The Sub-Committee will be asked to exclude the press and public from the meeting for the following items as it is likely that exempt information relating to the financial or business affairs of any particular person (including the local authority holding that information) will be disclosed.

Minutes:

RESOLVED that pursuant to Section 100A of the Local Government Act 1972, the press and public shall be excluded from the meeting during items 6 – 8 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.)

108.

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

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 Andrew Whitaker, Vipul Mehta and Masaaki Tezuka, representatives of Nomura.

 

RESOLVED that the Nomura Far East Developed Equities and Emerging Equity Markets Active Manager Quarterly review as at the end of March 2021 be noted.

 

109.

Legal and General Investment Management (LGIM) Funds 2020/21 Annual Review and Environmental, Social and Governance (ESG) and Climate Funds Available (Agenda item 7)

Additional documents:

Minutes:

The Sub-Committee considered theLegal and General Investment Management (LGIM) Funds 2020/21 Annual Review and Environmental, Social and Governance (ESG) and Climate Funds Available.

 

The Sub-Committee received a presentation from Chris Lyons and David Barron, representatives of LGIM.

 

RESOLVED that LGIM’s Worcestershire Pension Fund’s Investment review for 2020/21 and the potential ESG and Climate Funds available be noted.

110.

Portfolio Evaluation Ltd Worcestershire Pension Fund Investment Overview 2020/21 (Agenda item 8)

Additional documents:

Minutes:

The Sub-Committee considered the Portfolio Evaluation Ltd (PEL) Worcestershire Pension Fund Investment Overview 2020/21.

 

The Sub-Committee received a presentation from Nick Kent a representative of PEL.

 

RESOLVED that the Portfolio Evaluation Ltd  Worcestershire Pension Fund Investment Overview 2020/21 be noted.

111.

Economic Outlook (Agenda item 9)

Additional documents:

Minutes:

The Sub-Committee considered the Economic Outlook report.

 

The Sub-Committee received a presentation from Gordon Ross, a representative of LGPS Central.

 

RESOLVED that the Economic Outlook provided by LGPS Central be noted.