Issue - meetings

The Sub-Committee received a confidential update.

Resolved:

That the Pension Fund Investment Sub-Committee:

1.     Notes the Report and the outcomes and recommendations arising from the facilitated discussion, provided at Appendix 1 of the Report; and

Noting that the following strategic allocations are recommended but subject to further modelling and evaluation, in particular in terms of their impact on funding level outcomes:

2.     That Private Equity strategic allocation is increased to 6%;

3.     That the Private Debt strategic allocation is maintained at 7%, with an interim target of 5%;

4.     That the Infrastructure strategic allocation is increased to 10%, subject to further review of the long-term market outlook once the current target of 7% exposure is closer to being achieved.