Decision details

(a)        The Committee noted the updated funding and hedging position for the Fund and the progress being made on the various elements of the Risk Management Framework.

(b)        The Committee noted the restructuring of the LDI strategy has been completed and a positive mark-to-market gain has been realised.

(c)        The Committee noted that the Officers are working with their advisors in order to finalise a collateral waterfall process at Insight to better manage collateral requirements. Further, it has been provisionally agreed that c.£50m will be removed from the Insight QIAIF to be invested elsewhere in the portfolio.