Issue - meetings

Chris Norton, Strategy and Commissioning Manager (Treasury, Pension, Audit & Risk) introduced this report which provided a general update on investment related activity.  He highlighted that the funding level had improved to 101% over the quarter ending 30 June 2021, the Multi Asset Credit Fund transfer had taken place, and the tendering process for a second Independent Adviser with a liabilities focus would commence shortly.

In response to the Board’s questions on climate change Chris Norton advised that there had been a meeting arranged by a local climate interest group and whilst he did not have full details of attendance, he was aware that Councillors John Horner and Bill Gifford had attended and engaged with the meeting.  It was clear that climate change was a serious issue but there was some divergence of views in terms of divesting or engaging.  It would be essential that clear communication was issued on the approach being taken.

In response to a query about the minus figure entry in Appendix 1 to the report in relation to “WARKS-BCPP INFRA”, Chris Norton agreed to look into this and provide an explanation.

The Local Pension Board noted the report.