Decision details

The Head of Fund updated the Board on discussions and decisions from the Pension Fund Committee on the 8^th June 2018 in relation to Part I items on the agenda.

It was reported that the Committee had agreed that the Local Pension Partnership become an asset owner signatory to the Principles of Responsible Investment in place of the LCPF, which would delist as a signatory. As a result the Partnership would be committed to reporting publicly, via the annual PRI reporting process, on how the 6 principles were implemented within their stewardship activities as part of the practical fulfilment of LCPF’s fiduciary and ownership responsibilities. It was also noted that in order to avoid abortive work a review of the current Stewardship Code had been postponed until after a revised Code was issued in the spring of 2019.

The Board was informed that an additional meeting of the Committee would be held on the 5^th July 2018 to consider the LCPF Annual Report and Accounts and the Head of Fund asked members to let her have any comments they may have on the accounts as soon as possible so that they could be considered before the accounts were presented to the County Councils Audit, Risk and Governance Committee on the 30^th July 2018.

Resolved:

1.  That the reports considered under Part I of the agenda at the Pension Fund Committee on the 8^th June 2018 and decisions taken are noted.

2.  That Board members forward any comments they may have on the LCPF Annual Report and Accounts to the Head of Fund so that they can be considered before the accounts are presented to the County Councils Audit, Risk and Governance Committee on the 30^th July 2018.