Wellington
12:15
(1) The Independent Financial Adviser will report orally on the performance and strategy of Wellington drawing on the tables at Agenda Items 12 and 15.
(2) The representatives (Nicola Staunton, Ian Link and Louise Kooy-Henckel) of the Fund Manager will:
(a) report and review the present investments of their part of the Fund and their strategy against the background of the current investment scene for the period which ended on 31 December 2018;
(b) give their views on the future investment scene.
In support of the above is their report for the period to 31 December 2018.
At the end of the presentation, members are invited to question and comment and the Fund Managers to respond.
The public should be excluded during this item because its discussion in public would be likely to lead to the disclosure to members of the public present of information in the following prescribed category:
3. Information relating to the financial or business affairs of any particular person (including the authority holding that information) and since it is considered that, in all the circumstances of the case, the public interest in maintaining the exemption outweighs the public interest in disclosing the information, in that such disclosure would prejudice the trading activities of the fund managers involved and would prejudice the position of the authority's investments in funding the Pension Fund.
The Committee is RECOMMENDED to note the main issues arising from the presentation and to take any necessary action, if required.
Decision:
Noted.
Minutes:
The Independent Financial Adviser reported orally on the performance and strategy of Wellington drawing on the tables at Agenda items 12 and 15.
The representatives, Nicola Staunton, Ian Link and Travis Miley, of the Fund Manager presented their approach to investments in relation to their part of the Fund and their strategy against the background of the current investment scene.
At the end of the presentation they responded to questions from members of the Committee.
The public was excluded during this item because its discussion in public would be likely to lead to the disclosure to members of the public present of information in the following prescribed category:
3. Information relating to the financial or business affairs of any particular person (including the authority holding that information) and since it was considered that, in all the circumstances of the case, the public interest in maintaining the exemption outweighed the public interest in disclosing the information, in that such disclosure would prejudice the trading activities of the fund managers involved and would prejudice the position of the authority’s in funding the Pension Fund.
RESOLVED: to note the main issues arising from the presentation.