1. That prior approval to the procurement strategy outlined in the report for the appointment of Investment Management Services be confirmed.
2. That prior approval to the award of the investment management services contract to the following companies, with estimated fees set out as follows, be confirmed:
Brockton Capital - £1,575,000
Frogmore Real Estate Partners - £2,250,000
Invesco Asset Management – £540,000
M&G Investments £800,000
3. That a formal review of the open ended contracts awarded to Invesco Asset Management and M&G Investments will take place after four years, and formal approval will be sought for these investments going forward, be noted.