Agenda and draft minutes

The members had before them the Agenda papers. (previously circulated)

None.

None.

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 13 June 2023).  Enquiries about this can be made through the telephone number/e-mail address listed in this agenda and on the website.

None.

RESOLVED that pursuant to Section 100A of the Local Government Act 1972, the press and public shall be excluded from the meeting during items 4 – 6 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 publicwere excluded. (This is a fair summary of the proceedings.)

The Sub-Committee considered the Portfolio Evaluation Limited (PEL) Quarterly Update.

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

RESOLVED that the investment performance information attached as an Appendix to the report be noted.

The Sub-Committee considered the LGPS Central Global Active Emerging Markets, Global Active Investment Grade Bond & All World Equity Climate Multi Factor fund performance to the end of March 2023.

The Sub-Committee received a presentation from Mark Davies, Jakril Hoque, John Goodall and Ann-Marie Patterson from LGPSC.

RESOLVED that the LGPS Central Global Active Emerging Market, Global Active Investment Grade Bond and Global Sustainable Equity Funds Performance Investments Performance to March 2023 be noted.

The Sub-Committee received a verbal update on Private Equity from Sherief Loutfy, Head of Pension Investments, Treasury Management & Banking.

RESOLVED that the verbal Private Equity update provided at the Sub-Committee meeting be noted.