INVESTMENT
COMMITTEE
Membership Six Council members, plus up to seven co-opted
non-voting members.
Terms of
Reference
To consider
and decide all matters appertaining to the investment, administration and management of the Council's Local
Government Pension Fund and, in particular to
(i)
decide the overall investment strategy and strategic asset
allocation of the pension fund, reporting to Council as
necessary;
(ii)
decide how the pension fund is invested and to appoint investment
managers, global custodians, actuaries and any other professional
independent external advisors necessary for the good stewardship of
the pension fund;
(iii)
monitor performance of the pension fund, the individual fund
managers and other external advisors;
(iv)
authorise the acquisition and sale of investment properties which
are or to be held within the direct property portfolio in the
pension fund;
(v)
prepare, publish and ensure compliance with the Investment Strategy
Statement, the Funding Strategy Statement, the Business Plan, the
Governance Compliance Statement and the Communications Policy and
Practice Statement and revise the statements to reflect any
material changes in policy;
(vi)
approve policy on environmental, social and governance
considerations and on the exercise of share voting rights;
(vii)
approve any other investment or pension policies that may be
required to comply with regulations or good practice in the
management of pension funds and to make any decisions in accordance
with those policies;
(viii)
approve and publish the Pension Fund Annual Report and Accounts,
reporting it to Council for information;
(ix)
receive actuarial valuations of the pension fund regarding the
overall funding level and the level of employers’
contributions necessary to maintain the pension fund and to make
recommendations to the Council about the level of contributions
required;
(x)
consider any proposed legislative changes in respect of the pension
fund and to respond to government consultations;
(xi)
receive and consider the external auditor’s report on the
governance of the pension fund; and
(xii)
decide on the admission to and cessation of bodies to the pension
fund.