Agenda and minutes
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EMERGENCY EVACUATION PROCEDURE The Chair will draw attention to the emergency evacuation procedure as set out under Note 9.
Minutes: The Democratic Service Officer advised the meeting of the procedure. |
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DECLARATIONS OF INTEREST At this point in the meeting declarations of interest are received from Members in any of the agenda items under consideration at the meeting. Members are asked to complete the green interest forms circulated to groups in their pre-meetings (which will be announced at the Council Meeting) to indicate: (a) The agenda item number in which they have an interest to declare. (b) The nature of their interest. (c) Whether their interest is a disclosable pecuniary interest or an other interest, (as defined in Part 2, A and B of the Code of Conduct and Rules for Registration of Interests) Any Member who needs to clarify any matters relating to the declaration of interests is recommended to seek advice from the Council’s Monitoring Officer or a member of his staff before the meeting to expedite dealing with the item during the meeting. Minutes: There were none. |
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APOLOGIES FOR ABSENCE AND SUBSTITUTIONS To receive any declarations from Members of the Committee and Officers of personal/prejudicial interests in respect of matters for consideration at this meeting, together with their statements on the nature of any such interest declared.
Minutes: There were none. |
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TO ANNOUNCE ANY URGENT BUSINESS AGREED BY THE CHAIR Minutes: There was none. |
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ITEMS FROM THE PUBLIC - TO RECEIVE DEPUTATIONS, STATEMENTS, PETITIONS OR QUESTIONS Minutes: There were none. |
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ITEMS FROM COUNCILLORS AND CO-OPTED AND ADDED MEMBERS To deal with any petitions or questions from Councillors and, where appropriate, co-opted and added members.
Minutes: There were none. |
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MINUTES: 14 NOVEMBER 2016 Additional documents:
Minutes: The public and exempt minutes of the meeting of the 14 November 2016 were approved as a correct record and signed by the Chair. |
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RESPONSIBLE INVESTING - LOW CARBON INDICES Additional documents:
Minutes: The Assistant Investments Manager introduced this item.
The Panel, having been satisfied that the public interest would be better served by not disclosing relevant information, RESOLVED, in accordance with the provisions of the Section 100(A)(4) of the Local Government Act 1972 that the public should be excluded from the meeting for this item of business, because of the likely disclosure of exempt information as defined in paragraph 3 of Part I of Schedule 12A of the Act as amended.
After discussion the Panel RESOLVED to recommend to the Committee that if it should decide to introduce a low-carbon index in the Investment Strategy Review to be undertaken in 2017, then a broad market optimised approach as recommended in section 5 is the most appropriate. |
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REVIEW OF INVESTMENT PERFORMANCE FOR PERIODS ENDING 31 DECEMBER 2016 Additional documents:
Minutes: The Panel returned to open session.
The Assistant Investments Manager introduced this item and summarised the key facts as set out in sections 4 and 5 of the report. He also noted the selection decision for the Liability Risk Management Framework mandate, which was summarised in Exempt Appendix 4.
The Chair asked whether in the interests of prudence it was time to think of changing any of the Fund’s managers. The Investment Manager said that she did not think this was the right time to dispense with any managers, because that would require money to be placed somewhere temporarily during the tendering process, and before tendering it would desirable to have a top-level review by Mercer. In addition, the Investments Team did not have sufficient resources to undertake a major tendering exercise. It would be possible to take some decisions about managers as part of the Investment Strategy review.
Mr Turner commented on the Mercer investment performance report including the performance of individual investment managers. Members discussed the report with Mr Turner and officers.
RESOLVED to note the information as set out in the reports and the appendices.
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