Pensions Sub Committee Minutes

Date:
Thursday 24 November 2016
Time:
10:30am
Place:
Council Offices, English Street, Dumfries

Attendance Details

Members:
Tom A McAughtrie (Chairman)-Abbey
Ian Carruthers-Annandale South
Iain Dick-Stranraer and North Rhins
Grahame Forster-Wigtown West
Patsy Gilroy-Dee
Graham Nicol-Mid Galloway
Ronnie E Ogilvie-Annandale South
Stephen Thompson-Annandale North
Ted Thompson-Lochar
Officials:
Paul Garrett - Head of Finance and Procurement
Claire Rogerson - Governance Officer
Andrew Ewart - Treasury/Insurance Officer
Gemma Lowery - Treasury & Capital Manager
In attendance:
Paul Potter - Hyman Robertson
Dylan Bell - Franklin Templeton
Chris Orr - Franklin Templeton
Emily Hitch - Threadneedle
James Allum - Threadneedle
David McKie - Pension Board Member
Tom Featherstone - Pension Board Member
David Stainthorpe - Pension Board Member
Karen Hunter (substitute) - Pension Board Member
Apologies:
George N Prentice - Castle Douglas and Glenkens
Item Number Item/Description
PUBLIC
1 SEDERUNT AND APOLOGIES

6 Members present, 1 apology and 3 Members not present at the start of the meeting

2 DECLARATIONS OF INTEREST

NONE declared

3 MINUTE OF MEETING OF 25 AUGUST 2016

Decision

 

APPROVED

 

MEMBERS - Ian Carruthers and Patsy Gilroy entered the meeting - 8 Members present

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 due for the need for a decision by the Chairman

5 LOCAL GOVERNMENT (SCOTLAND) ACT 1973

Decision

 

AGREED to adopt a  resolution to exclude the public from the meeting in terms of section 50a (4) and paragraph 9 of part 1 of schedule 7a of the local government of Scotland act 1973.

 

MEMBER - Iain Dick entered the meeting - 9 Members present

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

Decision

NOTED


6.1 contents of the report “Review of Investment Managers Performance for the Third Quarter of 2016” by Hymans Robertson

6.2 the Managers Performance snapshot provided at page 8 of the report


6.3 AGREED to receive a report at the next meeting to review the funds equity allocation within the portfolio NOTING the recommendation of the Investment Manager and to take no action at this stage.

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

Decision

 

7.1 NOTED the presentation and report by Franklin Templeton

 

7.2 THANKED Franklin Templeton for their presentation

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

Decision

 

8.1 NOTED the presentation and report by Threadneedle

 

8.2 THANKED Threadneedle for their presentation