Agenda and minutes

RESOLVED that the Minutes of the meeting held on 23 November 2007 are correctly recorded and that they be signed by the Chairman.

(Item D1 – Report by Director of Finance)

Mr G Brown and Mr J Jacobs of the Audit Commission attended the meeting for this item.

RESOLVED that the draft Superannuation Fund Audit Plan proposed by the Audit Commission (as KCC’s external auditors), and the proposed fee for this audit, be agreed.

(Item D2 – Report by Director of Finance)

RESOLVED that the latest Summary of Fund Asset Allocation and Performance be noted.

(Item D3 – Report by Director of Finance)

RESOLVED that the contents of the report, setting out the outcomes of the 2007 actuarial valuation, be noted.

(Item D4 – Report by Director of Finance)

RESOLVED that the Funding Strategy Statement be agreed.

(Item D5 – Report by Director of Finance)

RESOLVED that the draft Governance Compliance Statement, as set out in the Appendix to the report, be agreed.

(Item D6 – Report by Director of Finance)

RESOLVED that the application for admission to the Kent Pension Scheme by the Kent and Medway NHS Trust and Social Care Partnership be agreed.

(Item C1)

RESOLVED that the exempt Minutes of the meeting held on 23 November 2007 are correctly recorded and that they be signed by the Chairman.

(Item C2)

(1)       Mr K Percy and Mr M Murray of SGAM attended the meeting to give a presentation on SGAM’s performance and to answer Members’ questions.

(2)       RESOLVED that the report from SGAM be noted.

(Item C3)

(1)       Mr H Ferrand and Mr W Deer of Invesco Perpetual attended the meeting to give a presentation on Invesco Perpetual’s performance and to answer Members’ questions.

(2)       RESOLVED that the report from Invesco Perpetual be noted.

(Item C4 – Report by Director of Finance)

Mr D Boyd of Hymans Robertson was in attendance for this item.

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