Pensions Sub Committee Minutes

Date:
Thursday 25 August 2016
Time:
10:30am
Place:
Council Offices, English Street, Dumfries

Attendance Details

Members:
Tom A McAughtrie (Chairman)-Abbey
Iain Dick-Stranraer and North Rhins
Graham Nicol-Mid Galloway
Ronnie E Ogilvie-Annandale South
George N Prentice-Castle Douglas and Glenkens
Stephen Thompson-Annandale North
Ted Thompson-Lochar
Officials:
Paul Garrett - Head of Finance and Procurement
Andrew Ewart - Treasurer/Insurance Officer
Claire Rogerson - Governance Officer
In attendance:
Paul Potter - Hymans Robertson
Chris Murphy - Baillie Gifford
Scott Lothian - Baillie Gifford
Justin Brown - Blackrock
Simon Betteley - Blackrock
David McKie (Chairman) - Pension Board Member
Alastair Witts - Pension Board Member
Tom Featherstone - Pension Board Member
Karen Hunter (Substitute Member) - Pension Board Member
Apologies:
Ian Carruthers - Annandale South
Jim H Dempster - Mid and Upper Nithsdale
Grahame Forster - Wigtown West
Patsy Gilroy - Dee
Item Number Item/Description
PUBLIC
1 SEDERUNT AND APOLOGIES

7 Members present, 4 apologies

2 DECLARATIONS OF INTEREST

NONE declared

3 MINUTE OF MEETING OF 26 MAY 2016

Decision

 

APPROVED

4 ANY OTHER BUSINESS DEEMED URGENT BY THE CHAIRMAN DUE TO THE NEED FOR A DECISION

Decision

 

NOTED that there was no other business deemed urgent by the Chairman due for the need for a decision

5 LOCAL GOVERNMENT (SCOTLAND) ACT 1973

Decision

 

AGREED the adoption of a resolution to exclude the public from the meeting in terms of Section 50A(4) and paragraph 9 of Part 1 of Scheduled 7A of the Local Government Scotland Act 1973.

EXEMPT
6 REVIEW OF INVESTMENT MANAGER'S PERFORMANCE FOR THE SECOND QUARTER OF 2016 - REPORT BY HEAD OF FINANCE & PROCUREMENT (PARAGRAPH 9)

Decision

 

NOTED

 

6.1     the contents of the report "Review of Investment Manager's Performance for the Second Quarter of 2016" by Hymans Robertson; and

 

6.2     the manager performance snapshot.

7 INVESTMENTS HEALTH CHECK - PRESENTATION BY HYMANS ROBERTSON - REPORT BY HEAD OF FINANCE & PROCUREMENT (PARAGRAPH 9)

Decision

 

NOTED presentation and report by Hymans Robertson.

8 CURRENT INVESTMENT STRATEGY - PRESENTATION AND REPORT BY HEAD OF FINANCE & PROCUREMENT (PARAGRAPH 9)

Decision

 

NOTED the presentation and report by Baillie Gifford.

9 CURRENT INVESTMENT STRATEGY - PRESENTATION AND REPORT BY HEAD OF FINANCE & PROCUREMENT (PARAGRAPH 9)

Decision

 

NOTED presentation and report by BlackRock.