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Investment consultant quarterly report

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Meeting: 14/12/2020 - Pension Fund Investment Sub-Committee (Item 6)

Investment and Fund Performance

Additional documents:

Restricted enclosure 2 , View reasons restricted (6/2)
Restricted enclosure 3 , View reasons restricted (6/3)
Restricted enclosure 4 , View reasons restricted (6/4)

Minutes:

Resolved

1. That the Pension Fund Investment Sub-Committee noted the presentations.

2. That the Pension Fund Investment Sub-Committee continued to provisionally allocate 10% of the Fund’s portfolio to Border to Coast Pension Partnership’s (“BCPP”) Multi-Asset Credit Fund (“MAC”).

3. That the Pension Fund Investment Sub-Committee approved the recommendation to allocate 2.5% of the Fund’s portfolio to the PIMCO Diversified Income Fund (“DIF”), in January 2021 in advance of the transition to BCPP’s MAC (earliest likely transition is July 2021).

4. That the Pension Fund Investment Sub-Committee delegated authority to authorise the transition of 2.5% of assets to the PIMCO DIF to the Strategic Director for Resources.