Meeting documents
Avon Pension Fund Committee
Friday, 24th March, 2000
BATH AND NORTH EAST SOMERSET DISTRICT COUNCIL
PENSIONS COMMITTEE (SPECIAL)
Friday 21st January 2000
PRESENT -: Councillors Derrick, Gay, Kelleher, Kilroy and Sell
Observers on the Pensions Sub-Committee
M/S Ring - Bristol City Council; and M/S Pearce - Bath and North East Somerset Council
Also in attendance: Mr Corlett (Independent Adviser)
61 ELECTION OF CHAIR(PERSON) (LIBERAL DEMOCRAT GROUP TO CHAIR)
RESOLVED that Councillor Victoria Kilroy be elected Chair(person) for the duration of the meeting.
62 EMERGENCY EVACUATION PROCEDURE
The Chair(person) drew attention to the emergency evacuation procedure as set out on the Agenda.
63 ELECTION OF VICE-CHAIR(PERSON) (IF DESIRED)
RESOLVED There was no vice-chair(person) elected.
64 DECLARATIONS OF INTEREST
There were no declarations of interest made.
65 TO ANNOUNCE ANY URGENT BUSINESS AGREED BY THE CHAIR(PERSON)
There were no items of urgent business.
66 ITEMS FROM THE PUBLIC - TO RECEIVE DEPUTATIONS, STATEMENTS, PETITIONS OR QUESTIONS
There were none.
67 ITEMS FROM COUNCILLORS AND CO-OPTED AND ADDED MEMBERS
There were none.
68 IDENTIFICATION OF CHAIR(PERSON) FOR NEXT MEETING
RESOLVED that Councillor Gordon Derrick (Labour Group) be nominated to Chair the next (ordinary) meeting on Friday, 24th March 2000.
69 EXCLUSION OF THE PUBLIC
RESOLVED that, in accordance with the provisions of Section 100 (A) (4) of the Local Government Act 1972, the public be excluded from the meeting for the following item of business because of the likely disclosure of exempt information as defined in paragraph 9 of Part 1 of Schedule 12A of the Act.
70 REVIEW OF INVESTMENT MANAGERS
Representatives of 2 of the 3 Investment Managers, namely, Lynn Ruddick and Keith Mullins of Mercury Asset Management, and Peter Gale and Faith Boswell of Gartmore, gave separate presentations on the reasons for their performance to date, and answered questions.
Members discussed the issues involved.
It was moved by Councillor J Gay and seconded by Councillor Kelleher and accordingly RESOLVED that the Fund’s present Investment Managers’ arrangements remain unchanged pending a final decision on the adoption of a Fund Specific Benchmark and that, in the meantime, the Investment Managers’ mandates be closely monitored.
(NOTE: Councillor Gordon Derrick expressed concern on this matter and voted against this resolution.)
AFTER THIS ITEM, THE COMMITTEE RETURNED INTO OPEN SESSION
71 CARE AND REPAIR IN BATH AND NORTH EAST SOMERSET LTD – APPLICATION FOR ADMITTED BODY STATUS
The Committee considered a report by the Resources Director which advised of a request for admitted body status by Care and Repair in Bath and North East Somerset Ltd in order that 3 members of staff, previously employed by the Council’s Housing and Social Services Directorate, could continue to be members of the Pension Scheme.
It was moved by Councillor Kelleher and seconded by Councillor Sell and accordingly RESOLVED that Care and Repair in Bath and North East Somerset Ltd be granted admitted body status in the Avon Pension Fund with effect from 1st January 2000.
72 Y2K COMPLIANCE
The Committee received a report which briefly set out the position with regard to both investments and pension benefits as a result of being Y2K compliant.
RESOLVED that the report be noted and the appropriate Officers congratulated on their efforts.
The meeting ended at 5pm
Chair(person)
Date Confirmed and Signed
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