Issue - meetings

To receive the quarterly Pension Fund  will provide information for the between period October 2011 to March 31 2012 in respect of:

• Investment asset allocation

·        Investment performance

·        Responsible investment activity

·        Budget management

·        Late payment of contributions

The committee considered an update on the performance of the Pension Fund for the date ending the 31 March 2012 and were asked to consider relevant pension fund issues. They noted that the transfer of fund managers from Capital and Fidelity was ongoing. The underperformance of CBRE with the European portfolio had been   discussed with them and they were to provide regular updates on their performance to the interim Chief Financial Officer.

 The committee noted that the recommendation to appoint John Raisin, who had significant local government experience, was a pragmatic suggestion to the committee. Waltham Forest had completed the procurement process to appoint him and had saved Haringey the time and resource required to source an Independent Pension Advisor.

RESOLVED

1. That the information provided in respect of the activity in the last six months to 31^st March 2012 be noted.

2. That the appointment of John Raisin as the Independent Pension Fund adviser be approved