Agenda and minutes

The Chairman, Councillor Parker, welcomed officers and members to the Pension Fund Investment and Performance Sub-Committee and there was a round of introductions. 

Minute of meeting held on 27 February 2017 to be noted and signed by the Chairman. (Copy attached).

The Committee noted the Minute of the meeting of 22 February 2016.

DECISION

NOTED for signature by the Chairman.

Before proceeding with the private business, the following motion should be approved:-

“That under Section 50A(4) of the Local Government (Scotland) Act 1973 the public be excluded from the meeting for the following items of business on the grounds that they involve the likely disclosure of exempt information as defined in paragraph 8 of Part 1 of Schedule 7A to the aforementioned Act.”

DECISION

AGREED under Section 50A(4) of the Local Government (Scotland) Act 1973 to exclude the public from the meeting during consideration of the business contained in the following items on the grounds that they involved the likely disclosure of exempt information as defined in paragraphs 6 and 8 of part 1 of Schedule 7A to the Act.

SUMMARY OF PRIVATE BUSINESS

Private Minute of meeting held on 27 February 2017 to be noted and signed by the Chairman.  (Copy attached).

The Sub-Committee noted for signature the Private Minute of 22 February 2016.

Investment Strategy training by KPMG, copy slides attached.

The Sub-Committee received a presentation from KPMG on the role of the Investment Advisory, Evolution of the Fund and Strategic Allocation. 

Consider report by KPMG. (Copy attached).  

To consider report on the Fund’s Investment Performance by KPMG.

The Committee noted the presentation by Morgan Stanley.

The Committee noted the presentation by UBS

The Committee noted the presentation by Baillie Gifford.

The Committee noted the presentation by Harris Associates.