Agenda and decisions

Local Pension Committee - Friday, 21 January 2022 9.30 am

Venue: Council Chamber, County Hall, Glenfield

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

Note: Members of the public wishing to watch the meeting can access the webcast via the following link: https://www.youtube.com/channel/UCWFpwBLs6MnUzG0WjejrQtQ 

Items
No. Item

1.

Minutes of the meeting held on. 26 November 2021. pdf icon PDF 189 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.

Presentation of Petitions under Standing Order 35.

7.

Pension Fund Policy Report. pdf icon PDF 307 KB

Additional documents:

Decision:

 

RESOLVED:

 

a)    That the report be noted.

b)    That the revised Administration and Communication Policy be approved;

c)    That the Distribution of Death Grant Policy be approved;

d)    That the Over and Underpayment Policy be approved;

e)    That the Investment Advisor Objectives be approved.

8.

Responsible Investment Plan 2022. pdf icon PDF 429 KB

Additional documents:

Decision:

 

RESOLVED:

That the Responsible Investment Plan 2022 be approved.

9.

Overview of the Asset Strategy and Structure. pdf icon PDF 705 KB

Decision:

 

RESOLVED:

That the overview of the Fund’s Asset Strategy and Structure be noted.

10.

Date of next meeting.

The next meeting of the Committee is scheduled to take place on Friday 25 March 2022 at 9.30am.

12.

Exclusion of 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).

13.

Annual Review of the Asset Strategy and Structure.

Decision:

a)    That the outcome of the review on the Annual Asset Strategy be noted, and the proposal to maintain the allocation as agreed on 22 January 2021, be approved.

 

b)    That the Director of Corporate Resources be asked to review the following asset classes, and that the outcomes be submitted to future meetings of the Committee or Investment Subcommittee.

i. Listed Equity

ii. Targeted Return

iii. Infrastructure

iv. Property

v. Distressed Debt

 

c)    That the Investment Subcommittee consider over the course of 2022 the changes necessary to meet the strategic asset allocation, the outcome of any review, subject to b), and relevant product launches by LGPS Central and other investment managers.

 

d)    That the Director of Corporate Resources, following consultation with the Chairman of the Local Pension Committee, be authorised to utilise the Aegon short-dated investment grade bond fund to hold surplus cash awaiting drawdown to closed-ended funds, based on cash flow forecasts.

 

e)    That the intention to develop and document the Fund’s rebalancing principals as part of the Investment Strategy Statement refresh, be noted.