Agenda item

Andy Gilbert, Managing Director of Transition Management at BlackRock, addressed the Board on BlackRock’s approach to Transition Management.

RESOLVED: that

(i)            The Chamberlain seek external legal counsel on whether the Corporation’s three funds had to be treated as separate legal entities for the purposes of investment;

(ii)           The Chamberlain to receive feedback from BlackRock over whether their quoted fees may be reduced;

(iii)          The Chamberlain to report back to the Board on the potential movement of funds between pools and managers;

(iv)         Arrangements for adopting BlackRock as the preferred Transition Management candidate be progressed as quickly as possible, with demonstrable progress at the next Board meeting on 2 July;

(v)          The Chamberlain to circulate via email refreshed data on each of the accounts to the members of the Board.