Issue - meetings

That the appointment of a Unit Linked Life Insurance Policy with Mobius Life Limited be approved

Debbie Fielder, Pensions Finance Manager, introduced a report to provide a quarterly update on investment and funding related issues.  She advised that the report provided an update on the following items:

·         Business Plan 2015/16

·         Delegated Responsibilities

            The Pensions Finance Manager advised that the Funding and Investments section of the Business Plan 2015/16was appended to the report and referred to the key actions for quarter 1.  She reported on the main considerations concerning the Business Plan 2015/16 and Delegated responsibilities and invited Mr. Kieran Harkin, Fund Investment Consultant  – JLT Group, to report on the Tactical Management Portfolio

Mr. Harkin advised that monthly meetings of the Tactical Asset Allocation Group (TAAG) involving Fund officers and JLT Consultants were in place.  He explained that agenda items covered the short term (12 months) market outlook and determination of which asset classes should be included in the 9% of the Fund’s assets which were based on JLT’s suggested “best ideas”.  He referred to the rationale behind the short term tactical allocation and advised that the TAAG had been considering the most appropriate solution to implement this, within a single investment vehicle, and had identified a Unit Linked Life Insurance Policy with Mobius Life Limited.    He outlined the benefits of this option and advised that it would be identified as the Clwyd Tactical Fund.

            The Committee was asked to consider and approve the appointment of a Unit Linked Life Insurance Policy with Mobius Life Limited.

RESOLVED:

That the appointment of a Unit Linked Life Insurance Policy with Mobius Life Limited be approved