Issue - meetings

Report attached.

If the Pension Fund was to introduce a new Asset Class to permit investment in Local Infrastructure it would need to review its Statement of Investment Principles. The Statement was last reviewed on 26 March 2013 when an interim amendment to the strategy had been adopted. Within that revised strategy was a statement that the Pension Committee would be considering introducing an allocation of assets to infrastructure.

The proposed changes to the Statement of Investment Principles were contained in the Statement attached as Appendix ‘A’ to the report.. These changes would allow the introduction of a target allocation to an infrastructure asset class. The other classes were reduced to accommodate this change.

The Committee approved the revised strategy as submitted.