Agenda and minutes

Investment Committee (expired) - Wednesday, 17th January, 2018 1.45 pm

Venue: Committee Rooms - West Wing, Guildhall

Contact: Joseph Anstee
tel. no.: 020 7332 1480  Email: joseph.anstee@cityoflondon.gov.uk

Items
No. Item

1.

Apologies

 

 ...  view the full agenda text for item 1.

Minutes:

Apologies were received from Henry Colthurst, Hugh Morris (Ex-Officio Member), Deputy Henry Pollard, Ian Seaton, Dhruv Patel and Alderman Peter Hewitt (Ex-Officio Member).

 ...  view the full minutes text for item 1.

2.

Members' Declarations under the Code of Conduct in respect of items on the agenda

 

 ...  view the full agenda text for item 2.

Minutes:

Alexander Barr declared a standing interest due to working for Aberdeen Standard Investments.

 ...  view the full minutes text for item 2.

3.

Minutes of the Previous Meeting pdf icon PDF 198 KB

To agree the public minutes and non-public summary of the meeting held on 17 May 2017.

 ...  view the full agenda text for item 3.

Minutes:

RESOLVED - That the public minutes and non-public summary of the meeting held on 17 May 2017 be approved as an accurate record.

 ...  view the full minutes text for item 3.

4.

Minutes of the Financial Investment Board pdf icon PDF 187 KB

To note the public minutes and non-public summaries of the meetings held on 18 May 2017, 29 June 2017, 5 September 2017, 26 October 2017 and 30 November 2017.

 ...  view the full agenda text for item 4.

Additional documents:

Minutes:

RESOLVED - That the public minutes and non-public summary of the Financial Investment Board meetingsheld on 18 May 2017, 29 June 2017, 5 September 2017, 26 October 2017 and 30 November 2017be noted.

 

 ...  view the full minutes text for item 4.

5.

Minutes of the Property Investment Board pdf icon PDF 206 KB

To note the public minutes and non-public summaries of the meeting held on 24 May 2017, 21 June 2017, 19 July 2017, 6 September 2017, 11 October 2017, 15 November 2017, and 13 December 2017.

 

 ...  view the full agenda text for item 5.

Additional documents:

Minutes:

RESOLVED - That the public minutes and non-public summary of the Property Investment Board meetings held on 24 May 2017, 21 June 2017, 19 July 2017, 6 September 2017, 11 October 2017, 15 November 2017 and 13 December 2017 be noted.

 

 ...  view the full minutes text for item 5.

6.

Minutes of the Social Investment Board pdf icon PDF 177 KB

To note the public minutes and non-public summaries of the meeting held on 12 July 2017, 13 September 2017 and 13 December 2017.

 ...  view the full agenda text for item 6.

Additional documents:

Minutes:

RESOLVED - That the public minutes and non-public summary of the Social Investment Board meetingsheld on 12 July 2017, 13 September 2017 and 13 December 2017 be noted.

 ...  view the full minutes text for item 6.

7.

Annual Review of the Committee's Terms of Reference pdf icon PDF 117 KB

Report of the Town Clerk

 ...  view the full agenda text for item 7.

Minutes:

The Committee considered a report of the Town Clerk reviewing the Committee’s terms of reference ahead of the next municipal year.

 

A Member suggested that the terms of reference should also refer to the Committee’s responsibility for considering risk profile and the adherence of fund managers, and was also missing a reference to the Committee’s self-effectiveness review measure. The Committee noted that the three Sub-Committee’s each had their own terms of reference and it might be easier to capture self-effectiveness measures in the terms of reference for the Property, Financial and Social Investment Boards. The Committee agreed to delegate the final wording of the terms of reference to the Chairman and Deputy Chairman for approval before submission to the Court of Common Council.

 

RESOLVED

That the Investment Committee approve the amended terms of reference as set out in the report and accounting for Members’ suggestions, with the final wording delegated to the Chairman and Deputy Chairman for approval before submission to the Court of Common Council.

 ...  view the full minutes text for item 7.

8.

Questions on matters relating to the work of the Committee

 ...  view the full agenda text for item 8.

Minutes:

There were no questions.

 ...  view the full minutes text for item 8.

9.

Any Other Business that the Chairman considers urgent

 ...  view the full agenda text for item 9.

Minutes:

There was no other business.

 ...  view the full minutes text for item 9.

10.

Exclusion of the Public

MOTION - That under Section 100(A) of the Local Government Act 1972, the public be excluded from the meeting for the following items on the grounds that they involve the likely disclosure of exempt information as defined in Part I of the Schedule 12A of the Local Government Act.

 ...  view the full agenda text for item 10.

Minutes:

RESOLVED - That under Section 100(A) of the Local Government Act 1972, the public be excluded from the meeting for the following items on the grounds that they involve the likely disclosure of exempt information as defined in Part I of the Schedule 12A of the Local Government Act.

 

Item No.

 

Paragraph(s) in Schedule 12A

11-20

                            3

21-22

                            -

 

 ...  view the full minutes text for item 10.

11.

Non-public minutes of the previous meeting

To agree the non-public minutes of the meeting held on 17 May 2017.

 ...  view the full agenda text for item 11.

Minutes:

RESOLVED: That the non-public minutes of the meeting held on 17 May 2017 be approved as an accurate record.

 ...  view the full minutes text for item 11.

12.

Non-public minutes of the Financial Investment Board

To note the non-public minutes of the meeting held on 18 May 2017, 29 June 2017, 5 September 2017, 26 October 2017 and 30 November 2017.

 ...  view the full agenda text for item 12.

Minutes:

RESOLVED - That the non-public minutes of the Financial Investment Board meetings held on 18 May 2017, 29 June 2017, 5 September 2017, 26 October 2017 and 30 November 2017 be noted.

 

 ...  view the full minutes text for item 12.

13.

Non-public minutes of the Property Investment Board

To note the non-public minutes of the meeting held on 24 May 2017, 21 June 2017, 19 July 2017, 6 September 2017, 11 October 2017, 15 November 2017, and 13 December 2017.

 ...  view the full agenda text for item 13.

Minutes:

RESOLVED - That the non-public minutes of the Property Investment Board meetings held on 24 May 2017, 21 June 2017, 19 July 2017, 6 September 2017, 11 October 2017, 15 November 2017 and 13 December 2017 be noted.

 

 ...  view the full minutes text for item 13.

14.

Non-public minutes of the Social Investment Board

To note the non-public minutes of the meeting held on 12 July 2017, 13 September 2017 and 13 December 2017.

 

 ...  view the full agenda text for item 14.

Minutes:

RESOLVED - That the non-public minutes of the Social Investment Board meetings 12 July 2017, 13 September 2017 and 13 December 2017 be noted.

 ...  view the full minutes text for item 14.

15.

Strategic Property Estate - Annual Update

Report of the City Surveyor

 ...  view the full agenda text for item 15.

Minutes:

The Committee received a report of the City Surveyor.

 ...  view the full minutes text for item 15.

16.

City's Estate Strategy Report

Report of the City Surveyor

 ...  view the full agenda text for item 16.

Minutes:

The Committee received a report of the City Surveyor.

 ...  view the full minutes text for item 16.

17.

City Fund Strategy Report

Report of the City Surveyor

 ...  view the full agenda text for item 17.

Minutes:

The report was withdrawn.

 ...  view the full minutes text for item 17.

18.

Bridge House Estates - Annual Strategy Update

Report of the City Surveyor

 ...  view the full agenda text for item 18.

Minutes:

The Committee received a report of the City Surveyor.

 ...  view the full minutes text for item 18.

19.

Investments Performance Monitoring to 30 September 2017

Report of the Chamberlain

 ...  view the full agenda text for item 19.

Minutes:

The Committee received a report of the Chamberlain.

 ...  view the full minutes text for item 19.

20.

Update of the Social Investment Board

Report of the Chief Grants Officer

 ...  view the full agenda text for item 20.

Minutes:

The Committee received a report of the Chief Grants Officer.

 ...  view the full minutes text for item 20.

21.

Non-public questions on matters relating to the work of the Committee

 

 ...  view the full agenda text for item 21.

Minutes:

There were no non-public questions.

 ...  view the full minutes text for item 21.

22.

Any Other Business that the Chairman considers urgent and which the Committee agree should be considered whilst the public are excluded

 

 ...  view the full agenda text for item 22.

Minutes:

There was no other business.

 

 

The Committee was reminded that the Investment Committee dinner would take place on Tuesday 20 March 2018 at the Barbican Centre.

 ...  view the full minutes text for item 22.