Agenda and minutes

The Committee noted the appointment of Mr J Simmonds to replace Mr R Parry and welcomed Mr J Burden and Mr R Packham, District Council Representatives, to their first meeting.

RESOLVED that the Minutes of the meeting held on 15 June 2007 are correctly recorded and that they be signed by the Chairman.

29 February

6 June

12 September

21 November

RESOLVED that the following dates for 2008 be agreed:-

7 March 2008

6 June 2008

12 September 2008

21 November 2008

(Item D1 – Report by Director of Finance)

(Janet Eilbeck and Collette Archer of PWC were in attendance for this item)

RESOLVED that:-

(a)       the report be noted and the recommendations accepted;

(b)       the Chairman to write to remaining offenders who are late making contribution payment; and

(c)        the Director of Finance to raise with DCLG the question of sanctions.

(Item D2 – Report by Director of Finance)

RESOLVED that the report be noted.

(Item D3 – Report by Director of Finance)

RESOLVED that:-

(a)       the revised Statement of Investment Principles be approved subject to the temporary deletion of Paragraph 11.3; and

(b)       a report on the social environment and ethical responsibilities of investment Managers be presented to the next meeting (Paragraph 11.3 refers).

(Item D4)

RESOLVED that the Annual Report and Accounts for 2006-07 be formally adopted and printed.

(Item D5 – Report by Director of Finance)

RESOLVED that a decision on the admission of Circle Anglia be deferred and a further report be submitted to the next meeting.

(this will be followed by a training session)

(Geoff Day, Birgitta Bostrom, Jonathan Harris, Sue Noffke and Justin Abercrombie of Schroders were in attendance for this item)

(1)       The Committee received a presentation by Johanna Kyrklund on the “Benefits of Diversification”

(2)       The Committee requested a letter be sent to Schroders thanking them for their hospitality.  It was noted that meetings of the Committee would be rotated amongst all Fund Managers in the future.

(3)       RESOLVED that the report be noted.

SUMMARY OF EXEMPT ITEM

(Where Access to Minutes Remains Restricted)

(Item C2 – Report by Director of Finance)

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