Issue details
Investment in London LGPS Common Investment Vehicle (CIV)
The Mayor in Cabinet is recommended to agree:
2.1 To participate in the establishment of the London (LGPS) Collective Investment Vehicle (CIV)
2.2 To participate in the establishment of a private company limited by shares to be incorporated to be the Authorised Contractual Scheme Operator (the ‘ACS Operator’) of the London (LGPS) Collective Investment Vehicle (CIV), the ACS Operator to be structured and governed as outlined in this report.
2.3 That following the incorporation of ACS Operator, the London Borough of Tower Hamlets:
2.3.1 become a shareholder in the ACS Operator.
2.3.2 contribute £1 to the ACS Operator as initial capital;
2.3.3 appoint an executive member to exercise the Council’s rights as shareholder of the ACS Operator;
Decision type: Key
Decision status: Recommendations Approved
Wards affected: (All Wards);
Notice of proposed decision first published: 13/05/2014
Open/Exempt: Open;
Decision due: 23 Jul 14 by Cabinet - Expired
Lead member: Cabinet Member for Resources and the Voluntary Sector
Lead director: Corporate Director, Resources
Department: Resources
Contact: Bola Tobun, (Investments and Treasury Manager, Resources) Email: bola.tobun@towerhamlets.gov.uk.
Consultation process
N/A
Consultees
Pensions Committee – At the committee meeting, February 26, 2014.
Has an Equality Analysis been carried out and if so the result of this Assessment?: No
What supporting documents or other information will be available?: The London LGPS Collective Investment Vehicle (CIV)
Decisions
Agenda items
- 25/02/2014 - Pensions Committee Investment in London LGPS Common Investment Vehicle (CIV) 25/02/2014
- 23/07/2014 - Cabinet - Expired Investment in London LGPS Common Investment Vehicle (CIV) 23/07/2014