Agenda item

The Board considered a report of the Director of Corporate Resources, which presented the annual update of the Pension Fund’s current strategies and policies and covered new policies that had been introduced or amendments that had been made. A copy of the report marked ‘Agneda Item 8’ is filed with these minutes.

Members questioned, with regards to managing risks, how the Fund positioned itself with current world trade issues and how investments would be affected. Officers explained that a report had been considered by the Local Pension Committee at its meeting in January at which it approved the Strategic Asset Allocation proposed to address this. The Board noted that given the Fund invested for the long-term, challenges always arose from time to time, such as investing in China, or Russian exposure.  Such risks were similar in nature in the sense that they proposed investment downside risks and so were managed accordingly.  Reassurance was given that the Fund had a very diversified portfolio, could withstand most shocks, and was not exposed to any one geography or sector.

RESOLVED:

That the Pension Fund Policy Report be noted, and comments submitted to the Local Pension Committee on 14 March 2025.