Agenda and minutes

Special Meeting, Pensions Committee
Monday, 12th March, 2018 9.30 am

Venue: Committee Room 3B - Town Hall. View directions

Contact: Victoria Freeman 01708 433862  Email: victoria.freeman@onesource.co.uk

Items
No. Item

38.

APOLOGIES FOR ABSENCE AND ANNOUNCEMENT OF SUBSTITUTE MEMBERS

(if any) - receive

Minutes:

Apologies for absence were received from Councillors Clarence Barrett and Joshua Chapman.

39.

DISCLOSURE OF INTERESTS

Members are invited to disclose any interest in any of the items on the agenda at this point of the meeting.

 

Members may still disclose any interest in any item at any time prior to the consideration of the matter.

 

 

Minutes:

There were no declarations of interest.

40.

EXCLUSION OF THE PUBLIC

To consider whether the public should now be excluded from the remainder of the meeting on the grounds that it is likely that, in view of the nature of the business to be transacted or the nature of the proceedings, if members of the public were present during those items there would be disclosure to them of exempt information within the meaning of paragraph 1 of Schedule 12A to the Local Government Act 1972; and, if it is decided to exclude the public on those grounds, the Committee to resolve accordingly on the motion of the Chairman.

 

Minutes:

The Committee resolved to exclude the public from the meeting during discussion of the following item on the grounds that if members of the public were present it was likely that, given the nature of the business to be transacted, that there would be disclosure to them of exempt information within the meaning of paragraph 3 of Schedule 12A to the Local Government Act 1972 which could reveal information relating to the financial or business affairs of any particular person (including the authority holding that information) and it was not in the public interest to publish this information.

 

There were no members of the public or press present for the duration of the meeting.

41.

APPOINTMENT OF INVESTMENT MANAGER - REAL ASSET MANDATE pdf icon PDF 111 KB

Additional documents:

Minutes:

At its meeting on the 19 September 2017, members agreed to undertake the search for a Real Asset Manager in collaboration with Newham, as the London CIV did not have any clear plans for the launch of real asset products. 

 

Members received a paper produced by bfinance, which outlined the offers made by the shortlisted managers.  bfinance is an independent specialist financial services investment advisory firm that was used to carry out the search of the fund managers. 

 

The Committee received presentations from two shortlisted Real Asset Managers and three Infrastructure Managers. 

 

The Committee scored and evaluated each shortlisted manager and gave consideration as to the appointment of managers to deliver the Real Asset Mandate.

 

RESOLVED: 

 

That one of the fund managers be appointed to implement the Global Real Estate and that two of the fund managers be appointed to implement the Infrastructure Asset.