Decision details

Investment Strategy Review

Decision Maker: Pension Fund Committee

Decision status: For Determination

Is Key decision?: No

Purpose:

A review of the Fund's allocation to different investment classes

Decisions:

Exempt information as defined in paragraph 3 of Part 1 of Schedule 12A of the Local Government Act 1972. 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.

 

The Chair presented a report on the recommendations of the Investment Panel on the 24th August 2020 following its strategic review of investments. He also  proposed an amendment to the second part of the resolution set out in the report which would add the following text to the end of the recommendation 'with an additional £50m tolerance range in the event that suitable investment opportunities arise'. The amendment was moved and seconded and put to the vote where it was approved.

 

Resolved:

 

1.  That the recommended changes to the Pension Fund Strategic Asset Allocations and tolerance ranges as set out in Appendix 'A' to the report presented are approved and implemented with effect from the 1st January 2021.

 

2.  That the current allocation to the Lancashire Local Property Portfolio, which is based on a percentage of the total value of the Fund, be replaced with a more realistic, achievable allocation of £100m, with an additional £50m tolerance range in the event that suitable investment opportunities arise.

 

Report author: Paul Dobson

Date of decision: 18/09/2020

Decided at meeting: 18/09/2020 - Pension Fund Committee

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