Decision details

(See pages 119 - 131 of the main agenda)

The meeting sent its best wishes to Karsan Varsani, finance officer, who had recently been admitted to hospital.

This report was considered after the guillotine had fallen, therefore in accordance with council assembly procedure rule 1.12 (3) and (4), the report was afforded up to a maximum of 15 minutes.

In accordance with council assembly procedure rule 2.11 (2), the report was formally moved by the Mayor.

Following debate (Councillors Fiona Colley and Hamish McCallum), the recommendations contained within the report were put to the vote and declared to be carried.

RESOLVED:

1.  That the 2015/16 mid-year treasury management update be noted.

2.  That the progress made in establishing the London Local Government Pension Scheme Collective Investment Vehicle (the CIV) be noted.

3.  That it be noted that the strategic director of finance and governance, after taking advice from the pensions advisory panel, will invest an estimated £150,000 in the CIV, which is required to meet the regulatory capital requirements needed for Financial Conduct Authority approval to operate.

4.  That it be noted that the strategic director of finance and governance, will enter into contractual arrangements with the CIV on behalf of the pension fund.

5.  That it be noted that the strategic director of finance and governance may, following consultation with the chair of the pensions advisory panel, take decisions to transfer pension fund assets to the CIV as set out in the report.