Meeting documents
Dorset County Council Pension Fund Committee
Thursday, 26th June, 2014
Committee Information
Pension Fund Committee - 26/06/2014: 10:00:00
The offices of Insight Investment, 160 Queen Victoria Street, London EC4V 4LA
The offices of Insight Investment, 160 Queen Victoria Street, London EC4V 4LA
Committee Minutes Agenda Item | |
Agenda Details | |
| Item Number: | 1 |
| Status: | Public |
| Heading: | Election of Chairman |
| Item: | To elect a Chairman for the remainder of the year 2014/15. |
| Item Number: | 2 |
| Status: | Public |
| Heading: | Appointment of Vice-Chairman |
| Item: | To appoint a Vice-Chairman for the remainder of the year 2014/15. |
| Item Number: | 3 |
| Status: | Public |
| Heading: | Apologies for Absence |
| Item: | To receive any apologies for absence. |
| Item Number: | 4 |
| Status: | Public |
| Heading: | Code of Conduct |
| Item: | Members are required to comply with the requirements of the Localism Act 2011 regarding disclosable pecuniary interests and you should therefore: Check if there is an item of business on this agenda in which you or a relevant person has a disclosable pecuniary interest. Inform the Secretary to the Joint Committee in advance about your disclosable pecuniary interest and if necessary take advice. Check that you have notified your interest to your own Council's Monitoring Officer (in writing) and that it has been entered in your Council's Register (if not this must be done within 28 days and you are asked to use a notification form available from the clerk). Disclose the interest at the meeting and in the absence of a dispensation to speak and/or vote, withdraw from any consideration of the item. Each Council's Register of Interests is available on Dorsetforyou.com and the list of disclosable pecuniary interests is set out on the reverse of the form. |
| Item Number: | 5 |
| Status: | Public |
| Heading: | Terms of Reference |
| Item: | Terms of Reference:- To exercise all functions of the Council as administering authority under the Local Government Superannuation Act and Regulations and deal with all matters relating thereto. In broader terms this means that the Committee has responsibility for: Determining the overall investment strategy and strategic asset allocation of the Fund, and in doing so taking proper professional advice. Overseeing the preparation of and regularly reviewing the Fund's key policy documents including the Statement of Investment Principles (SIP), Funding Strategy Statement, Governance Policy and Compliance Statement, Business Plan, Communications Strategy. Appointing and reviewing the performance of all Fund Managers and other professional service providers. Reviewing all aspects of performance across the Pension Fund service. Deciding upon requests for admission of qualifying organisations wishing to join the Fund. Deciding upon key pension policy and discretions that are the responsibility of the Administering Authority. Ensuring that at all times that these responsibilities are discharged in the best interests of the Fund. |
| Item Number: | 6 |
| Status: | Public |
| Heading: | Minutes |
| Item: | To confirm the minutes of the meeting of the Pension Fund Committee held on 4 March 2014 (attached). |
| Reports and Attachments: | |
| Item Number: | 7 |
| Status: | Public |
| Heading: | Public Participation |
| Item: | (a) Public Speaking (b) Petitions |
| Item Number: | 8 |
| Status: | Public |
| Heading: | Review of the Fund's Strategic Asset Allocation |
| Item: | To receive the report of the Pension Fund Administrator updating the implementation of the Investment Strategy (attached). |
| Reports and Attachments: | |
| Item Number: | 9 |
| Status: | Public |
| Heading: | Governance Compliance Update |
| Item: | To receive the report of the Independent Professional Observer on the governance arrangements of the Fund (attached). |
| Reports and Attachments: | |
| Item Number: | 10 |
| Status: | Public |
| Heading: | Consultation on future structure of the Local Government Pension Scheme |
| Item: | To consider a draft response to the government's consultation on structural reform of the Local Government Pension Scheme (attached). |
| Reports and Attachments: | |
| Item Number: | 11 |
| Status: | Public |
| Heading: | The Liability Matching Portfolio |
| Item: | To receive the report of Insight Investments (attached). |
| Reports and Attachments: | |
| Item Number: | 12 |
| Status: | Public |
| Heading: | The Property Portfolio |
| Item: | To receive the report of CBREi (attached). |
| Reports and Attachments: | |
| Item Number: | 13 |
| Status: | Public |
| Heading: | Other Manager reports |
| Item: | To receive the following reports (attached) : (a) The Internal Manager - UK Equities (b) Pictet Asset Management - Global Equities (c) Royal London Asset Management - Corporate Bonds (d) Baring Asset Management - Diversified Growth |
| Reports and Attachments: | 20 Agenda Item 13 File - PFC 260614 REP 13(a) |
| Item Number: | 14 |
| Status: | Public |
| Heading: | Funding Strategy Statement 2014-17 |
| Item: | To consider the revised Funding Strategy Statement (attached). |
| Reports and Attachments: | |
| Item Number: | 15 |
| Status: | Public |
| Heading: | Fund Administrator's Report |
| Item: | To consider the report of the Fund Administrator (attached). This includes Strategic Allocation for the period ending 31 March 2014, cash flow and performance analysis and other topical issues; as part of this item the Committee will receive the report from the Independent Adviser on investment outlook and asset allocation (Appendix 2 of the report refers). |
| Reports and Attachments: | |
| Item Number: | 16 |
| Status: | Public |
| Heading: | Dates of Future Meetings |
| Item: | To confirm the dates for the meetings of the Committee in 2014: 8 September - County Hall, Dorchester 26/27 November - London to be hosted by rlam |
| Item Number: | 17 |
| Status: | Public |
| Heading: | Questions from Members of the Council |
| Item: | To answer any questions received in writing by the Chief Executive by not later than 10.00am on Monday, 23 June 2014. |
