At an informal Meeting of the Pension Fund
Committee held on 10th September 2021 Members considered how the
Fund was to allocate it’s investment assets. The
Committee’s considerations were submitted to the Chief
Executive Officer and he agreed that the following recommendations
be approved:-
(i) That agreement be given to invest 7% (£340 million at the
June 2021 quarter end) of the Fund in Border to Coast’s
Listed Alternatives fund.
(ii) That delegated authority be given to the Treasurer to make the
final decision in consultation with the Chair of the Committee to
make the transfer to Border to Coast’s Listed Alternatives
fund.
(iii) That agreement be given to the equity allocations and ranges
of Proposal 1, as amended;
• 28% Border to Coast Global Alpha with a range of +/-
5%
• 4% Border to Coast UK Alpha
• 18% Baillie Gifford LTGG with a range of +/- 3%
By whom: Richard Flinton, Chief Executive Officer, under his
emergency delegated powers and after consultation with the Pension
Fund Committee.
PLEASE NOTE that as a non-executive function, this decision is not
open to call in.