Issue - decisions

Pension Fund Committee (10th September 2021) – Asset Allocation (September 21)

27/09/2021 - Pension Fund Committee (10th September 2021) – Asset Allocation (September 21)

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.