Agenda item

UPDATE ON POOLING INCLUDING MAPPING AND ASSET TRANSITION PLAN

Minutes:

The Investment Manager presented the report.

 

She advised the Committee that Brunel PP had received its FCA authorisation the previous week and was therefore now able to provide investment services to the member funds. APF had signed a service agreement with Brunel.

 

An updated version of Exempt Appendix 5a was circulated to Members.

 

The Committee, having been satisfied that the public interest would be better serviced by not disclosing relevant information, RESOLVED that the public should be excluded from the meeting for the remainder of this item, and that the reporting of this part of the meeting should be prevented in accordance with the provisions of section 100(A)(4) of the Local Government Act 1972, because of the likely disclosure of exempt information as defined in paragraph 3 of Part 1 of Schedule 12A of the Act as amended.

 

After discussion it was RESOLVED:

 

1.  To note the progress made on pooling of assets;

 

2.  To agree the mapping of Avon’s passive and actively managed equity and bond assets to Brunel portfolios;

 

3.  To agree the mapping of non-quoted assets subject to finalisation of the portfolio specifications;

 

4.  To agree to delegate the confirmation of allocation and value of assets to be transferred to each Brunel portfolio to Officers;

 

5.  To note the project plan for the transition of assets.

Supporting documents: