Agenda and minutes

RESOLVED that the Minutes of the meeting held on 20 November 2009 are correctly recorded and that they be signed by the Chairman.

Report by the Chairman of the Superannuation Fund Committee and the Director of Finance

RESOLVED that the report be noted.

Report by the Chairman of the Superannuation Fund Committee and the Director of Finance

RESOLVED that the comparative statement and action plan be agreed.

Report by the Chairman of the Superannuation Fund Committee and the Director of Finance

RESOLVED that:-

(a)        the frequency of the meetings be increased from 4 to 6;

(b)        the Director of Finance and Head of Legal & Democratic Services and Local Leadership liaise to arrange additional meeting dates after the date of the next Superannuation Fund Committee meeting on Friday, 18 June 2010;

(c)        there be an annual review to determine whether 6 full committee meetings alone is sufficient to deal with the Superannuation Fund’s work load.

Report by the Chairman of the Superannuation Fund Committee and the Director of Finance

RESOLVED that the report be agreed subject to minor changes.

Report by Chairman of the Superannuation Fund Committee and the Director of Finance

RESOLVED that the report be noted.

Report by the Chairman of the Superannuation Fund Committee and the Director of Finance

RESOLVED that:

(a)        the action in respect of My Time Active be noted;

(b)        the applications for admission to the Kent County Council Pension Fund by Epic Trust, Kier Facilities Services Limited and Sodexo Limited be agreed;

(c)        the application for admission to the Kent County Council Pension Fund by Connexions Partnership Kent and Medway Limited be agreed subject to Kent County Council agreement to cover the excess of the Bond;

(d)        legal agreements can be entered into in respect of Sevenoaks School Limited and Sevenoaks Foundation;

(e)        legal agreements can be entered into in respect of Circle Anglia acting as guarantor in respect of the admission agreement with Invicta Telecare;

(f)          once legal agreements or deeds have been prepared for all of the above matters, the Kent County Council seal can be affixed to the legal documents.

Report by S Richards – Kent Unison

1.      Mr S Richards had requested support from the Committee to shareholder motions within BP and Shell calling for internal reviews of certain large scale mineral projects;

2.      The Committee was asked to note the resolutions and supporting statements submitted with the report and to agree to instruct its fund managers holding relevant shares to vote in favour of the resolutions.

3.      Mr P Clokie moved, Mr R Parry seconded that Fund should take no action.

4.      The Chairman put to the vote the motion set out in (3).

For 6

Against 1

Carried

5.      RESOLVED that:

(a)        the resolutions and supporting statements submitted with the report be noted; and

(b)        the Fund should take no action.

(Open Access to Minutes)

Mr H Ferrand and Mr W Deer were in attendance for this item.

RESOLVED that the report be noted.

Report by the Chairman of the Superannuation Fund Committee and the Director of Finance

RESOLVED that the report be agreed and noted.

(Where Access to Minutes Remains Restricted)

Report by the Chairman of the Superannuation Fund Committee and the Director of Finance

The Committee agreed to an approach to managing the Fund’s foreign currency exposure.

Report by the Chairman of the Superannuation Fund Committee and the Director of Finance.

The Committee agreed to an Environmental Equity Mandate investment.

Report by the Chairman of the Superannuation Fund Committee and the Director of Finance

The Committee noted and acted upon the items included in the Private Equity and Infrastructure Update report.

Report by the Chairman of the Superannuation Fund Committee and the Director of Finance

The Committee agreed a number of issues relating to the structure and management of the Fund.