Agenda item

Report of the Town Clerk.

The Board received the list of outstanding actions and the Chairman noted there were no public actions at present.

In response to a Member’s request for an update on the letter received from the Minister for Local Government in relation to Local Government Pension Scheme Investment Pooling, the Chamberlain explained that this letter would be circulated to the Board following the meeting, and the letter confirmed that all funds must fully participate in a Pool, and those Pools must have an FCA authorised operator. The Chamberlain further explained that although all Pools must be operational by April 2018 (and the London CIV is fully operational already) there are no specific deadlines for on-boarding any individual asset class allocations onto the Pool. The Pools are required to update Ministers on progress periodically. The Chamberlain suggested it might be helpful to invite officers from the London CIV to a future FIB meeting.

RESOLVED – That the report be noted.