PENSION FUND PANEL


FRIDAY 26 MAY 2006 AT 10.00 A.M.

CHUTE ROOM, ELIZABETH II COURT, THE CASTLE, WINCHESTER


LOUISE PICKFORD

7355

1 APOLOGIES

To receive any apologies for absence.

2 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. The declaration should be made at the time of the relevant debate.

3 CHAIRMAN'S COMMUNICATIONS

4 DEPUTATIONS

5 MINUTES

To confirm the Minutes of the meeting held on 12 May 2006.

6 LOCAL GOVERNMENT PENSION SCHEME (LGPS): CHANGES IN APRIL 2006

To consider a report of the County Treasurer regarding key changes which have been made to the Local Government Pension Scheme (LGPS).

7 INVESTMENTS IN COMPANIES ASSOCIATED WITH THE ARMS TRADE

To consider a report of the County Treasurer concerning the policy on investments in companies associated with the arms trade.

8 GOVERNANCE AND COMMUNICATIONS POLICY STATEMENTS

To consider a report of the County Treasurer concerning the Pension Fund's Governance and Communications Policy Statements.

9 UPDATE FROM THE INDEPENDENT ADVISER

To receive an oral update from the Panel's Independent Adviser.

10 EXCLUSION OF PRESS AND PUBLIC

RECOMMENDATION:

That in relation to items 11, 12,13, 14 and 15 the public be excluded from the meeting, as it is likely, in view of the nature of the business to be transacted or the nature of the proceedings, that if members of the public were present during the items there would be disclosure to them of exempt information within Paragraph 3 of Part 1 of Schedule 12A to the Local Government Act 1972, and further that in all the circumstances of the case, the public interest in maintaining the exemption outweighs the public interest in disclosing the information, for the reasons set out in the report.

11 PROPERTY (EXEMPT)

To consider a confidential report of the County Treasurer concerning the fund's UK property portfolio.

12 BRAMDEAN ASSET MANAGEMENT'S FUTURE ROLE (EXEMPT)

To consider a confidential report of the County Treasurer regarding the future role of Bramdean Asset Management.

13 TENDERS FOR THE PROVISION OF GLOBAL CUSTODY SERVICES (EXEMPT)

To consider a confidential report of the County Treasurer concerning tenders for the provision of global custody services.

14 REVIEW OF INVESTMENT MANAGEMENT ARRANGEMENTS - UPDATE (EXEMPT)

To consider a confidential report of the County Treasurer giving an update on the progress to date on the review of investment management arrangements.

15 SGAM'S UNCONSTRAINED MANAGEMENT OF EQUITIES (EXEMPT)

To consider a confidential report to the County Treasurer concerning SGAM's unconstrained management of equities.

This agenda is also available on the County Council's website (www.hants.gov.uk/decisions) and can be provided on request in large print or Braille or on disk. Contact details are shown above.

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.