62 Report on the Main Issues arising from the Reports of the Fund Managers not represented at this meeting
12:50
The Independent Financial Adviser will report on the officer meeting with Wellington and UBS, and the latest position on investments with Brunel.
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 reports and to take any necessary action, if required.
Additional documents:
Decision:
Noted.
Minutes:
The Committee considered a report from the Independent Financial Advisor (PF19) on the main issues arising from the officer meeting with Wellington Management and UBS in conjunction with the information contained in the tables at Agenda Item 17 (Overview and Outlook for investments Markets), and the latest position on investments with Brunel.
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 report.