Agenda item

The Committee considered the Pension Investment Update.

In the ensuing debate, Rob Wilson undertook to review the ‘Donut’ charts for how votes had been cast in different markets and regions to make them clearer and easier to understand.

RESOLVED: that

a)    The Independent Financial Adviser's fund performance summary and market background be noted;

b)   The update on the Investment Managers placed 'on watch' by the Pension Investment Advisory Panel be noted;

c)    The update on the transition of the Active Corporate Bonds mandate into the LGPS 'Global active Investment Grade Corporate Bond Fund be noted;

d)   The funding position compared to the investment performance be noted;

e)    The update on the Equity Protection current static strategy extension be noted;

f)     The update on Responsible Investment activities and Stewardship investment pooling and the Stewardship Code be noted;

g)   The update on the LGPS Central report on the voting undertaken on the Funds behalf be noted; and

h)   The update on the development of a Climate Risk Monitoring Platform be noted.