Archived decisions

AT A MEETING of the PENSION FUND PANEL held at The Castle, Winchester on Friday 11 November 2005.

PRESENT:

        a Councillor T.K. Thornber (Chairman)

        p Councillor M.F. Cartwright (Vice-Chairman)

Councillors:

p F.G. Allgood p M.N. Kemp-Gee

p B.D.Dash p A.R. Ludlow

p A.G. Dowden p J.J.W. Maxwell

p P.R.C. Hutcheson

Co-opted members:

p Councillor T. Blair (Portsmouth City Council)

a Councillor I.R. Carr (Test Valley Borough Council)

p Mr E.W. Hughes (pensioners' representative)

a Mr D. Offord (contributors' representative)

Independent adviser:

p Mr H. Cole.

40 APOLOGIES FOR ABSENCE

    Apologies for absence were received from Councillor T.K. Thornber (who was attending a Local Government Association meeting), Councillor I.R. Carr and Mr D. Offord.

41 DECLARATIONS OF INTEREST

    Members were mindful that, where they believed they had a personal or prejudicial interest in any matter to be considered at the meeting, they should, normally at the time of the debate, declare their 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 was discussed.

42 CHAIRMAN'S COMMUNICATIONS

    No Chairman's communications were received.

43 DEPUTATIONS

    No deputations were received.

44 MINUTES

    The Minutes of the meeting held on 20 September 2005 were confirmed as a correct record and signed by the Chairman.

45 EXCLUSION OF PRESS AND PUBLIC

    RESOLVED:

    That, by virtue of paragraph 7 of Part 1 of Schedule 12A of the Local Government Act 1972, the press and public were excluded from the meeting for the following items of business.

46 MANAGERS INVESTMENT POLICIES AND PERFORMANCE (CONFIDENTIAL)

    The Panel considered a confidential report of the County Treasurer (Item 6 in the Minute Book) summarising the fund managers' portfolios, their investment actions taken and performance returns over periods to 30 September 2005. The Panel received presentations from each of the fund mangers and used the report to question the managers about their actions and performance.
    [SUMMARY OF A MINUTE WHICH CONTAINS CONFIDENTIAL INFORMATION]

47 ECONOMIC AND FINANCIAL BACKGROUND (CONFIDENTIAL)

    The Panel considered a confidential report of the Panel's adviser, Mr Harvey Cole, (Item 7 in the Minute Book) on the economic and financial background and the possible implications for the Panel's investment strategy.

    [SUMMARY OF A MINUTE WHICH CONTAINS CONFIDENTIAL INFORMATION]