Issue - meetings

That a meeting of the Committee be held during April 2016 on pooling investments in Walesand members of the Pension Board be invited to attend.

The Clwyd Pension Fund Manager provided a verbal update on the DCLG consultation on Pooled Investments, the Working Together in Wales Project and the search for a single passive provider for the Welsh Funds. 

                        During discussion it was agreed that whilst the outcome of the DCLG consultation was awaited a meeting of the Committee would be held during April 2016 on pooling investments in Wales and members of the Pension Board be invited to attend.  Mrs McWilliam commented that there were a number of key decisions to be made during the next six months and that the implications needed to be fully understood.   It was acknowledged by Committee that there are a number of important areas that await clarification. It was further acknowledged that the imminent response from Government to the underlying Funds in the proposed All Wales Pool will form a base from which to begin clarifying these areas and move forward.     

                        Debbie Fielder, Pensions Finance Manager, provided feedback on the recent appointment of a single passive provider for the Welsh Funds.  She advised that a manager had been appointed in the last week and would be working with officers across all authorities.    As the appointment was conducted through the OJEU process, it was now in the 10 day standstill period and the appointment would be announced at the end of March. 

RESOLVED: 

That a meeting of the Committee be held during April 2016 on pooling investments in Walesand members of the Pension Board be invited to attend.