Archived decisions

AT A MEETING of the PENSION FUND PANEL held at The Castle, Winchester on 7 November, 2001

PRESENT:

Councillors: Mrs. S.M. Glasspool DL; B.D. Dash; P.R.C. Hutcheson;

D.A. Kirk; A.R. Ludlow; W.H. Wheeler.

Pensioners' Representative: Mr. E.W. Hughes.

Employees' Representative: Mr. D. Offord

13 APPOINTMENT OF CHAIRMAN

In the absence of the Chairman of the Panel it was

RESOLVED:

That Councillor Mrs. S.M. Glasspool be appointed Chairman for the meeting.

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COUNCILLOR MRS S. M. GLASSPOOL IN THE CHAIR
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14 EXCLUSION OF THE PRESS AND PUBLIC

RESOLVED:

That, by virtue of Paragraph 7 of Part I of Schedule 12A of the Local Government Act 1972, the press and public be excluded from the meeting.

15 TENDERS FOR THE MANAGEMENT OF A SEGREGATED PORTFOLIO

The Panel considered a report of the County Treasurer (Item 2 in the Minute Book) on tenders received for the investment management of an existing portfolio. Following a notice placed in the Official Journal of the European Communities, 29 firms had completed a preliminary questionnaire giving details of their companies and investment processes. A final shortlist of 5 firms had been prepared. These firms made presentations to the Panel and answered questions. In making their decision on which manager to appoint, the Panel considered whether the investment style adopted by the firms would be complimentary to the Fund's existing managers, the size of the firms, the experience and seniority of their nominated staff, the importance to them of the Hampshire Fund as a client, and their performance record. The Panel also considered whether to appoint one or two new managers and the amount to be allocated to them.

All the managers made good presentations and had a good track record of performance.

RESOLVED:

That SG Asset Management be appointed to manage the portfolio in question for a three year period from 1 January 2002 with an option to extend the contract for up to four more years, subject to satisfactory performance and that the County Treasurer be authorised to conclude the contract documentation with the Chief Executive.

[SUMMARY OF CONFIDENTIAL MINUTE]

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