11:55
(1)
The Independent Financial Adviser will report
orally on the performance and strategy of Baillie Gifford drawing on the tables
at Agenda Items 5 and 8.
(2)
The representatives (Anthony Dickinson and Iain McCombie) 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 30 June 2012;
(b)
give their views on the future investment scene.
In support of the above is their report for the period to 30 June 2012.
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.
Minutes:
The representatives, Mr. A. Dickson and Mr. I. McCombie, reported on and reviewed the present investments in relation to their part of the Fund and their strategy against the background of the current investment scene for the period which ended on 30 June 2012.
The public were 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.
RESOLVED: to note the main issues arising from the reports.