Issue - meetings

This report considers the Pension Fund’s current asset allocation and recommends movements towards the agreed strategic benchmark.

The Pensions Working Group and Aon Hewitt had discussed a timetable for movement to the strategic asset allocation position on a phased basis up to the end of December 2013; spreading the transition equally over four quarters in this way would mitigate risk in the current financial climate. This phased approach was recommended as timetabled, however it was recommended that the fund move directly to the strategic position in both corporate bonds and emerging markets equities, as it was felt that it was the most appropriate time to move directly to the strategic position in these two areas.

RESOLVED

That the asset allocation moves set out in the Advice Table in the report to the Committee be implemented.