Archived decisions

AT A MEETING of the PENSION FUND PANEL held at The Castle, Winchester on Friday 9 October 2009.

Chairman:

p Councillor M.N. Kemp-Gee

Councillors:

p F.G. Allgood a D.A. Kirk

p C. Carter p B. Tennent

p B.D. Dash p T. Thacker

p A.G. Dowden p T.K. Thornber, CBE

Co-opted members:

p Councillor P. Giddings (Test Valley Borough Council)

a Councillor D. Jones (Portsmouth City Council)

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

p Mr P. Reynolds (employee representative)

Independent adviser:

p Mr H. Cole

29 APOLOGIES

Councillors D.A. Kirk and D. Jones gave their apologies. Councillor P. Giddings attended the meeting in place of Councillor I.R. Carr, as the representative of the Hampshire district councils.

30 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.

31 MINUTES

The Minutes of the meetings held on 21 and 29 July 2009 were confirmed as a correct record and signed by the Chairman.

32 CHAIRMAN'S COMMUNICATIONS

The Chairman welcomed Mr B. Wood who attended the meeting as an observer in his role as the deputy to the employee representative Mr P. Reynolds.

The Chairman commented on the successful Annual General Meeting of the Pension Fund held on 30 September 2009 and thanked members who had attended.

The Chairman reported that discussions were in progress on the use of modern portfolio management techniques for the Pension Fund and a report will be made to a future meeting of the Panel.

The Chairman also confirmed that work was continuing to arrange a number of training sessions for the Panel.

33 EXCLUSION OF PRESS AND PUBLIC

RESOLVED:

That the public be excluded from the meeting during the following items of business, 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 those 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 reports.

34 INVESTMENT MATTERS - UPDATE INCLUDING RECENT PERFORMANCE RETURNS (EXEMPT)

The Panel considered an exempt report from the County Treasurer providing an update on investment matters (Item 6 in the Minute Book).
[SUMMARY OF A MINUTE WHICH CONTAINS EXEMPT INFORMATION]

35 ALTERNATIVE INVESTMENTS PORTFOLIO (EXEMPT)

The Panel considered an exempt report from the County Treasurer providing an update on the alternative investments portfolio (Item 7 in the Minute Book).
[SUMMARY OF A MINUTE WHICH CONTAINS EXEMPT INFORMATION]