Issue - meetings
Pooling Investments in Wales (PART 2 REPORT)
Meeting: 29/11/2017 - Clwyd Pension Fund Committee (Item 90)
Pooling Investments in Wales
To provide Committee Members with an update on
implementation of Pooling Investments in Wales, and request
approval for the appointment of the Operator following the
procurement exercise
Additional documents:
- Restricted enclosure 2 , View reasons restricted (90/2)
- Restricted enclosure 3 , View reasons restricted (90/3)
Decision:
1. The Committee agreed to the appointment of Bidder 1 as the preferred bidder for the Wales Pension Partnership, and
2. Subject to the completion of the standstill period and the finalisation of the Operator Agreement, appoint Bidder 1 as the Operator under the Operator Agreement.
3. The Committee noted and discussed the Wales Pension Partnership Progress Report.
Minutes:
The Chairman stated that at the last Joint Governance Committee of the Wales Pension Partnership it was agreed that Bidder 1 be recommended to each Pension Fund Committee for appointment and that it was also further agreed that the identity of Bidder 1 would not be disclosed to the Joint Governance Committee at this stage.
Mr Latham provided a background of the appointment process whilst confirming that the decision making for the Funds investment strategy remains with the Committee. Mrs Fielder detailed the overall procurement process leading to the recommendation for appointing Bidder 1.
The Committee had a detailed discussion around the process and appointment of Bidder 1 before voting 7 for and 1 against the appointment.
The Committee were then advised that Bidder 1 was Link Fund Solutions.
RESOLVED:
1. The Committee agreed to the appointment of Bidder 1 as the preferred bidder for the Wales Pension Partnership, and
2. Subject to the completion of the standstill period and the finalisation of the Operator Agreement, appoint Bidder 1 as the Operator under the Operator Agreement.
3. The Committee noted and discussed the Wales Pension Partnership Progress Report.