Agenda and minutes

Financial Investment Board - Thursday, 2nd July, 2015 1.45 pm

Venue: Committee Rooms - West Wing, Guildhall

Contact: Philippa Sewell
tel. no.: 020 7332 1426  Email: philippa.sewell@cityoflondon.gov.uk

Items
No. Item

1.

Apologies

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

Minutes:

Apologies were received from Roger Chadwick, Simon Duckworth, Clare James, Deputy Henry Pollard, James de Sausmarez, and Philip Woodhouse.

 

The Chairman advised the Board that, having been appointed to the Investment Committee by the Policy and Resources Committee at their meeting of 23 June 2015, James de Sausmarez had been appointed to the Financial Investment Board via urgency procedures under Standing Order 41.

 

 ...  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:

There were no declarations.

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

3.

Minutes of the previous meeting pdf icon PDF 184 KB

To agree the public minutes and non-public summary of the meeting held on 27 May 2015.

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

Minutes:

RESOLVED - That the public minutes and non-public summary of the meeting held on 27 May 2015 be agreed as a correct record.

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

4.

Outstanding Actions pdf icon PDF 119 KB

Report of the Town Clerk.

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

Minutes:

Pension Fund

The Corporate Treasurer advised that the wording was being revised slightly, and would be finalised for the Annual Report.

 

Charities Pool

The Corporate Treasurer advised that the accounts would be considered by the Finance Committee in July with the criteria being considered by that Committee in September, coming before this Board for information in October.

 

RESOLVED – That the report be noted.

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

5.

MONTHLY INVESTMENT ANALYSIS REVIEW pdf icon PDF 349 KB

Report of the Chamberlain.

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

Minutes:

The Board received the monthly review for May 2015, which detailed the list of current investments. Members noted there had been a number of monthly credit rating changes, but that these were within the set limits and no triggers had been reached.

 

RESOLVED – That the report be noted.

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

6.

Questions on matters relating to the work of the Committee

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

Minutes:

In response to a Member’s question, the Town Clerk and Chamberlain undertook to review the schedule of meeting dates.

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

7.

Any Other Business that the Chairman considers urgent

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

Minutes:

There was no other business.

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

8.

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 8.

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.                                                                    Exempt Paragraphs

 

Paragraph(s) in Schedule 12A

9-15, 17

                            3

16

                            -

 

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

9.

Non-public minutes of the previous meeting

To agree the non-public minutes of the meeting held on 27 May 2015.

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

Minutes:

RESOLVED - That the non-public minutes of the meeting held on 27 May 2015 be agreed as a correct record.

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

10.

Presentation from GMO

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

Minutes:

The Board received a presentation from GMO.

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

11.

Hampstead Heath Trust & Charities Pool Investment Performance Monitoring to 31 March 2015

Report of the Chamberlain.

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

Minutes:

The Board received a report of the Chamberlain.

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

12.

INVESTMENTS PERFORMANCE MONITORING

Report of the Chamberlain.

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

Minutes:

The Board received a report of the Chamberlain.

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

13.

QUARTERLY INVESTMENT REPORT

Report of Aon Hewitt.

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

Minutes:

The Board received a report of Aon Hewitt.

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

14.

Infrastructure Fund Recommendation

Report of Aon Hewitt.

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

Minutes:

The Board received a report of Aon Hewitt.

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

15.

Global and UK Equity Manager Searches

Report of Aon Hewitt.

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

Minutes:

The Board received a report of Aon Hewitt.

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

16.

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

 

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

Minutes:

There were no non-public questions.

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

17.

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 17.

Minutes:

There was one item of other business.

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