Agenda and minutes

Venue: Hendon Town Hall, The Burroughs, London NW4 4AX

Contact: Paul Frost 020 8359 2205  Email: paul.frost@barnet.gov.uk

Note: This meeting has moved from 20 January 2016. 

Items
No. Item

1.

Minutes pdf icon PDF 93 KB

Minutes:

The minutes of the meeting that took place on 22 October were signed as an accurate record.

2.

Absence of Members

Minutes:

An apology of lateness was received from Councillor Jim Tierney.

3.

Disclosable Pecuniary interests and Non Pecuniary interests

Minutes:

 

Member

Agenda Item

Interest declared

Councillor Arjun Mittra

All Items

Non Disclosable Pecuniary Interest by virtue of having shareholdings in a number of companies that the fund had investments in.

Councillor Mark Shooter

Non Disclosable Pecuniary Interest by virtue of having shareholdings in a number of companies that the fund had investments in.

Councillor Hugh Rayner

 

Non Disclosable Pecuniary Interest by virtue that he may having shareholdings in a number of companies that the fund had investments in.

Councillor Peter Zinkin

 

Non Disclosable Pecuniary Interest by virtue of having shareholdings in a number of companies that the fund had investments in.

 Councillor John

Non Disclosable Pecuniary Interest by virtue of having shareholdings in a number of companies that the fund had investments in.

 

4.

Public Question and Comments (if any)

Minutes:

None.

5.

Report of the Monitoring Officer (if any)

Minutes:

None.

6.

Members' Items (if any)

Minutes:

None received.

7.

Pension Fund Performance for Quarter July to September 2015 pdf icon PDF 264 KB

Additional documents:

Minutes:

The Pensions Fund Committee’s independent Investment Advisor, Phil Spencer introduced the report and summarised the Pensions Fund Performance for Quarter between July to September 2015.  The Committee noted the addendum to the report which contained appendix C which had been marked to follow.   Having considered the item the committee:

 

That the Pension Fund Committee noted the report.

 

8.

Update on Admitted Bodies Organisations pdf icon PDF 244 KB

Additional documents:

Minutes:

 

Karen Scott introduced the report and therefore updated the Committee in respect to the admitted bodies participation in the Local Government scheme.

 

The Chairman noted that 2.5 of the report should read ‘local government act 2003’.  Having considered the item the committee:

 

·       That the Pension Fund Committee noted the update to the issues in respect of admitted body organisations within the Pension Fund, as detailed in Appendix 1.

 

·       That the Pension Fund Committee approved the 5 new Admitted Bodies to the Fund as outlined in the Officers report.

9.

Pension Fund External Audit Plan for the year ended 31 March 2016 pdf icon PDF 243 KB

Additional documents:

Minutes:

The Head of Treasury, Iain Millar introduced the report.  He outlined the key elements of the external auditor’s proposed audit strategy and noted the contents of Appendix A.  

 

Having considered the report the Pension Fund Committee:

 

 

That the Pension Fund Committee noted the audit strategy for the 2015/2016 external audit.

10.

Update on Investment Strategy - To Follow

Minutes:

The Chairman noted that this report had been withdrawn from the agenda as it was not ready for the Committee’s consideration. He requested and received support from Members of the Committee that a training day be established in order for Members to learn of the intentions of the investment strategy.

 

 

The Committee resolved that

·       That the Pensions Fund Committee note the report be withdrawn from the agenda. 

·       That the investment Strategy be reported to the 15 March meeting.

·       That a training day be arranged before the 15 March meeting. 

 

 

 

 

11.

Pension Fund Committee - Work Programme pdf icon PDF 231 KB

Additional documents:

Minutes:

The Committee noted that the next meeting is due to take place on 15 March 2016. 

 

Resolved

 

That the work programme be noted.

 

12.

Any item(s) that the Chairman decides is urgent

Minutes:

There were no urgent items.