PENSION FUND PANEL


WEDNESDAY, 26 NOVEMBER 2003 AT 10.00 A.M.

WELLINGTON ROOM, THE CASTLE, WINCHESTER


KAREN WIDDOWSON

7334

1 DECLARATIONS OF INTEREST

All Members who believe they have a personal or a personal prejudicial interest in any matter to be considered at the meeting must declare their personal interest and having regard to the circumstances described in paragraphs 9, 10, 11 and 12 of the County Council's Code of Conduct, consider whether to leave the meeting whilst the matter is discussed.

2 CHAIRMAN'S COMMUNICATIONS

3 DEPUTATIONS

4 MINUTES (Copy herewith)

To confirm the Minutes of the meeting held on 6 November 2003.

5 PENSION FUND ANNUAL GENERAL MEETING (Report herewith)

To consider the report of the County Treasurer summarising the Pension Fund's sixth annual AGM held on 16 September, 2003.

6 HAMPSHIRE PENSION FUND - REVIEW OF BUSINESS PLAN AND TRAINING (Report herewith)

To consider the report of the County Treasurer detailing the revised business plan, progress on the action plan, a summary of the second training session held in July 2003 and providing information on training sessions available to Panel Members.

7 REVIEW OF STATEMENT OF INVESTMENT PRINCIPLES
(Report herewith)

To consider the report of the County Treasurer detailing the updated Statement of Investment Principles.

8 MANAGERS' FEES, TRANSACTION COSTS AND SOFT COMMISSION
(Report herewith)

To consider the report of the County Treasurer detailing fees paid to the managers in the year ended 30 September, 2003, the transaction costs chargeable to the Fund incurred by the managers in the year ended 30 September, 2003 and the use of soft commission arrangements by the managers in 2002.

9 LOCAL GOVERNMENT PENSION SCHEME - GOVERNMENT CONSULTATION UPDATE (Report herewith)

To consider the report of the County Treasurer detailing the latest consultation papers from the Government and suggested responses on the proposals by the County Council as administering authority.

10 EMPLOYEE AND PENSIONER REPRESENTATIVES
(Report herewith)

To consider the report of the County Treasurer reviewing the appointments of the employee and pensioner representatives to the Panel.

11 PENSIONS FOR COUNCILLORS - UPDATE (Report herewith)

To consider the report of the County Treasurer updating the Panel on pensions for councillors.

12 PART-TIME PENSION CLAIMS - UPDATE (Report herewith)

To consider the report of the County Treasurer detailing the current position and timetable for claims made via the UK Employment Tribunal by current and former members of the Hampshire Fund .

13 THE LOCAL GOVERNMENT PENSION SCHEME (MANAGEMENT AND INVESTMENT OF FUNDS) (AMENDMENT) REGULATIONS 2003
(Report herewith)

To consider the report of the County Treasurer recommending that no decision be taken to increase any of the investment limits pending the review of the benchmark in 2005.

14 EXCLUSION OF PRESS AND PUBLIC

RECOMMENDATION:

That, by virtue of paragraphs 7 and 8 of Part 1 of Schedule 12A of the Local Government Act 1972 the press and public be excluded from the meeting during consideration of the following items.

15 DEUTSCHE'S PROPOSALS FOR A GLOBAL APPROACH TO INVESTMENT (CONFIDENTIAL) (Report herewith)

To consider the confidential report of the County Treasurer.

16 PROPERTY (CONFIDENTIAL) (Report herewith)

To consider the confidential report of the County Treasurer.

17 PENSION FUND CASH PROVISION AND THE FUTURE OF THE ETHICAL PORTFOLIO (CONFIDENTIAL) (Report herewith)

To consider the confidential report of the County Treasurer.

18 OUTLOOK FOR THE ACTUARIAL VALUATION AT MARCH 2004 (CONFIDENTIAL) (Report herewith)

To consider the confidential report of the County Treasurer.

County Councillors attending as appointed members of this panel or by virtue of Standing Order 17.5; or with the concurrence of the Chairman in connection with their duties as members of the Council or as a local County Councillor qualify for travelling expenses.

Independent Members similarly qualify for payment of travelling expenses.

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