Decision details

A report was presented on a decision taken by the Monitoring Officer on the 6th December 2019, under the procedure for dealing with matters of urgent business with regard to the setting of Strategic Objectives for the Independent Advisers to the Fund.

Resolved: That the decision taken by the Monitoring Officer under the urgent business procedure to approve the following strategic objectives for the Independent Advisers to the Lancashire County Pension Fund, as required by The Investment Consultancy and Fiduciary Management Market Investigation Order, 2019, is noted.

1.  In conjunction with input from Local Pensions Partnership Investments and any other relevant sources, recommend a Strategic Asset Allocation with tactical ranges to the Pension Fund Committee.

2.  Monitor the construction and performance of the Fund, all its sub-funds and its Asset Manager (Local Pensions Partnership Investments) and recommend any consequent changes to the Pension Fund Committee.

3.   Where relevant and appropriate recommend suitable strategies to mitigate Fund risks to the Pension Fund Committee. These could include currency and liability hedging.