Legal & General
12:10
(1) The Independent Financial Adviser will report orally on the performance and strategy of Legal & General drawing on the tables at Agenda Items 14 and 17.
(2) The representatives (Chris Lyons and Tom Carr TBC) of the Fund Manager will report and review the investments within their part of the Fund.
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 Advisor reported orally on the performance and strategy of Legal & General drawing on the tables at Agenda Items 14 and 17.
The representatives Chris Lyons and Tom Carr 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.
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 investments in funding the Pension Fund.
RESOLVED: to note the main issues arising from the presentation.