Investment Strategy Statement
Decision Maker: Pension Fund Committee
Decision status: Recommendations approved
Is Key decision?: No
It was reported that although within the recommended three year timeframe for review it had been considered appropriate to review the current Investment Strategy Statement following the change to Strategic Asset Allocations and performance benchmarks by the Investment Panel which had been approved at the previous Committee.
The Committee considered the revised ISS, as set out at Appendix 'A' to the report and noted that it would include reference to the Responsible Investment Policy referred to elsewhere on the agenda should it be approved. With regard to the section on Infrastructure it was agreed that the text be amended to clarify that investments would be made 'predominantly in the UK or otherwise in OECD nations'.
In response to a query Mr Rule, Chief Investment Officer and Managing Director - Investments from the Local Pensions Partnership (LPP) informed the meeting that consideration was being given to developing a model which would enable LPP work with others to invest in residential developments in the future.
1. That the Infrastructure section of the Investment Strategy Statement set out at Appendix 'A' to the report presented, be amended to read '...predominantly in the UK or otherwise in OECD nations.'
2. That, subject to the amendment specified at 1 above, the Investment Strategy Statement is approved.
Report author: Paul Dobson
Date of decision: 23/03/2018
Decided at meeting: 23/03/2018 - Pension Fund Committee