Agenda and draft minutes
Venue: Committee Room, 1st Floor, Town Hall, Mulberry Place, 5 Clove Crescent, London, E14 2BG
Contact: Guy Butterworth, Democratic Services Tel: 020 7364 4651, E-mail: guy.butterworth@towerhamlets.gov.uk
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APOLOGIES FOR ABSENCE To receive any apologies for absence. Minutes: Apologies for absence were received on behalf of Councillor M. Ahmed.
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DECLARATIONS OF INTEREST To note any declarations of interest made by Members, including those restricting Members from voting on the questions detailed in Section 106 of the Local Government Finance Act, 1992.
Minutes: No declarations of interest were made. |
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UNRESTRICTED MINUTES To confirm as a correct record of the proceedings the unrestricted minutes of the ordinary meeting of the Pensions and Accounts Committee held on 15th December 2005. Minutes:
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DEPUTATIONS & PETITIONS To receive any deputations or petitions. Minutes: |
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UNRESTRICTED REPORTS FOR CONSIDERATION |
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Pension Fund: Further Review of Asset Allocation Minutes:
(i) That a private equity investment portfolio with a target allocation of 5% of the fund be established;
(ii) That a currency-hedging programme be implemented to a proportion of the fund, the details to be determined in discussion with the investment advisors;
(iii) That the Director of Resources be authorised to appoint advisors to administer the manager selection process on the advice of the Chair of the Investment Panel; (iv) That a Selection Panel be appointed comprising the following members to consider the presentations by prospective managers: · Chair of the Investment Panel · Independent Investment Advisor · Chair of Pension and Accounts Committee or nominee. · A Member of the Minority Group · Director of Resources or representative; (v) That one Trade Union representative be authorised to attend each appointment interview as an observer; and (vi) That the Director of Resources be authorised to appoint the managers on the recommendation of the Selection Panel.
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Communication and Governance Policy Statement Minutes:
(i) That the Communications Policy Statement as set out in Appendix 1 of the report be adopted, subject to further consultation;
(ii) That the Communications Policy Statement as set out in Appendix 1 of the report be adopted, subject to further consultation; and
(iii) That officers consult with the Trade Unions and prepare a further report for the next meeting of the Committee.
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ANY OTHER UNRESTRICTED BUSINESS CONSIDERED TO BE URGENT Minutes: None was raised. |
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RESTRICTED MINUTES To confirm as a correct record of the proceedings the restricted minutes of the ordinary meeting of the Pensions and Accounts Committee held on 15th December 2005. Minutes: RESOLVED:
That the restricted minutes of the meeting held on 15th December 2005 be confirmed and signed as a correct record of the proceedings.
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