Agenda and decisions

Investment Subcommittee - Wednesday, 27 April 2022 10.00 am

Venue: County Hall, Glenfield

Contact: Miss. C. Tuohy (Tel. 0116 305 5483)  Email: cat.tuohy@leics.gov.yk

Items
No. Item

1.

Minutes. pdf icon PDF 168 KB

2.

Question Time.

3.

Questions asked by members under Standing Order 7(3) and 7(5).

4.

To advise of any other items which the Chairman has decided to take as urgent elsewhere on the agenda.

5.

Declarations of interest in respect of items on the agenda.

6.

Date of Next Meeting - 27 July 2022.

7.

Strategic Asset Allocation Update and Cash Deployment Plans. pdf icon PDF 577 KB

Representatives from DTZ Investors will be in attendence to deliver a presentation.

Additional documents:

Decision:

a.    That the update on the Strategic Asset Allocation and Cash Deployment Plans be noted.

 

b.    That the presentation provided by DTZ Investors be noted.

9.

Exclusion of the press and public.

The public are likely to be excluded during consideration of the remaining items in accordance with Section 100(A)(4) of the Local Government Act 1972 (Exempt Information):

 

 

10.

Property Portfolio Review and Proposed Investments.

Decision:

 

a.              That a £120m commitment to the LGPS Central Direct UK property fund, to be split over two years, (£60m per financial year), be approved.

 

b.              That transfer of the management of the existing Colliers UK direct legacy (£113m at 31st December 2021) assets to DTZ, be approved.

 

c.              That movement of the Colliers UK indirect funds (£18m) to the LaSalle mandate, be approved.

 

d.              That the Director of Corporate Resources, following consultation with the Chairman of the Investment Subcommittee, be authorised to agree new benchmarks and target objectives for the UK and global mandate with LaSalle, as detailed in paragraphs 50, 51 and 52 of the report.

 

e.              That subject to d. the Director of Corporate Resources, following consultation with LaSalle, be authorised to determine the appropriate time to switch reporting to new benchmarks and a transition plan that balances the time taken to transition, and fees incurred, noting the transition will need to be carefully managed over a number of years.