Venue: Committee Rooms - West Wing, Guildhall
Contact: Philippa Sewell
tel. no.: 020 7332 1426
Email: philippa.sewell@cityoflondon.gov.uk
No. | Item |
---|---|
Apologies Minutes: There were apologies from Roger Chadwick. |
|
Members' Declarations under the Code of Conduct in respect of items on the agenda Minutes: There were no declarations.
The resolution from the Investment Committee on the appointment of the Financial Investment Board, its Chairman and Deputy Chairman, and the frequency of meetings was noted. Members noted that subsequent to the Investment Committee meeting, George Gillon had withdrawn his interest in the Board and Stuart Fraser had registered an interest in serving on the Board. Members also noted that Philip Woodhouse had registered an interest in serving on the Board but, as he was not a Member of the Investment Committee, appointment would have to be under the co-option protocol.
RESOLVED - That the Board’s appointment, election of Chairman and Deputy Chairman of the Board which took place at the Investment Committee on 14 May 2014 be ratified. |
|
Appointment of Financial Investment Board Member to the Social Investment Board To agree, in addition to the Chairman or his nominee, the appointment of a Financial Investment Board member to the Social Investment Board. Minutes: Members noted that the Social Investment Board would be discussing expanding its membership at its next meeting, with a view to making a proposal to the Policy and Resources Committee that the Financial Investment Board be allowed more nominees.
RESOLVED – That Andrew McMurtrie, alongside the Chairman, sits on the Social Investment Board as a representative of the Financial Investment Board. |
|
Minutes of the previous meeting PDF 178 KB To agree the public minutes and non-public summary of the meeting held on 5 February 2014. Minutes: RESOLVED - That the public minutes and non-public summary of the meeting held on 5 February 2014 be agreed as an accurate record.
Matters
Arising |
|
Monthly Investment Analysis Review PDF 265 KB Report of the Chamberlain. Minutes: The Board received the monthly review from March 2014, which detailed the list of current investments. Members considered the report and, in response to questions, the Chamberlain reported that investments were not placed in financial institutions with a Fitch credit rating (or equivalent) of less than A. The acceptance of building societies was based on the financial strength of their balance sheet.
RESOLVED – That the report be noted. |
|
Questions on matters relating to the work of the Committee Minutes: There were no questions. |
|
Any Other Business that the Chairman considers urgent Minutes: There was no other business. |
|
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. 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) no. 9-17 3 |
|
Non-public minutes of the previous meeting To agree the non-public minutes of the meeting held on 2 February 2014. Minutes: RESOLVED - That the non-public minutes of the meeting held on 5 February 2014 be agreed as an accurate record. |
|
BlackRock Transition Management Presentation by BlackRock. Minutes: The Board received a presentation from BlackRock. |
|
Transition Review Report of Aon Hewitt. Minutes: Aon Hewitt presented a review of the Transition Management. |
|
Investments Performance Monitoring to 31 December 2013 Report of the Chamberlain. Minutes: An updated was provided by the Chamberlain. |
|
Quarterly Investment Report Report of Aon Hewitt. Minutes: An update was given by Aon Hewitt. |
|
Pensions Infrastructure Platform Update Report of Aon Hewitt. Minutes: Aon Hewitt presented a report on the Pensions Infrastructure Platform (PIP). |
|
Private Equity Pipeline and Manager Selection Report of Aon Hewitt. Minutes: Aon Hewitt presented a report on the Private Equity pipeline and selections. |
|
Non-public questions on matters relating to the work of the Committee Minutes: There was one non-public question. |
|
Any Other Business that the Chairman considers urgent and which the Committee agree should be considered whilst the public are excluded Minutes: There were two items of other business. |