Hounslow Council


Agenda and draft minutes

Venue: Committee Room 3, Civic Centre, Lampton Road, Hounslow. View directions

Contact: Carol Stiles Tel. 020 8583 2066 or email:  carol.stiles@hounslow.gov.uk 

Items
No. Item

1.

Apologies for absence, declarations of interest or any other communications from Members

Minutes:

Apologies for absence were received from Councillor Malhotra and also from Councillor Rajawat for lateness.

 

There were no declarations of interest.

2.

Minutes of the meeting held on 29 September 2016 pdf icon PDF 285 KB

Minutes:

The minutes of the meeting held on 29 September 2016 (agenda item 2) were agreed.

3.

London Collective Investment Vehicle (CIV) by a representative of the CIV - 7.05 - 7.30 pdf icon PDF 845 KB

Minutes:

See London CIV Presentation (agenda item 3)

 

Julian Pendock and Jill Davys from CIV made the presentation and responded to questions from Members. They advised that there would be a paper going to a joint committee on budget proposals in February.

 

(Councillor Todd joined the meeting at this point).

 

Resolved:

 

That the report be noted.

4.

Corporate Governance Annual Report by Rapinder Sangha, Strategic Pensions and Treasury Accountant - 7.30 - 7.40 pdf icon PDF 246 KB

Minutes:

See report by Councillor Mukesh Malhotra, Chair of the Pension Fund Panel and Rapinder Sangha, Strategic Pensions and Treasury Accountant (agenda item 4)

 

Resolved:

 

That the overall voting outcome for all votes cast for the period October 2015 to September 2016 be noted.

5.

Exclusion of Press and Public

To resolve that the public and press be asked to leave the meeting during discussion of the remaining items of business because exempt information as defined in Paragraph 3 of Part I of Schedule 12A of the Local Government Act 1972 is likely to be made known.

 

Please note that members of the public and press must leave the meeting at this point.

Minutes:

Resolved:

 

That the public and press be asked to leave the meeting during discussion of the remaining items of business because exempt information, as defined in Paragraph 3 of Part I of Schedule 12A of the Local Government Act 1972 is likely to be made known.

6.

Confidential Minutes of the meeting held on 29 September 2016

Minutes:

The confidential minutes from the meeting held on 29 September 2016 (agenda item 6) were agreed.

7.

Stategy on Global Equities by Lorelei Watson, Head of Treasury, Pensions and Capital - 7.40 - 8.00

Minutes:

See report by Councillor Mukesh Malhotra, Chair of the Pension Fund Panel, Karen Shackleton, Allenbridge and Lorelei Watson, Head of Treasury, Pensions and Capital (agenda item 7)

 

Resolved:

 

That the recommendation in the report be agreed.

8.

Strategy on UK Equities by Lorelei Watson, Head of Treasury, Pensions and Capital - 8.00 - 8.15

Minutes:

 

 

See report by Councillor Mukesh Malhotra, Chair of the Pension Fund Panel, Karen Shackleton, Allenbridge and Lorelei Watson, Head of Treasury, Pensions and Capital (agenda item 8)

 

Councillor Lambert moved the recommendation, which were seconded by Councillor Todd and agreed by the Panel.

 

RESOLVED:

 

That the recommendation in the report be agreed.

9.

Black Rock (hard copy of the report enclosed) - 8.15 - 8.40

Minutes:

Imran Sattar and Jo Blackshaw presented the report. They advised that Chris Head had sent his apologies.

 

Resolved:

 

That the report be noted.

10.

Fidelity (hard copy of report enclosed) - 8.40 - 9.05

Minutes:

Eugene Philalithis and Heather Fleming presented the report.

 

(Councillor Rajawat joined the meeting at this point).

 

Resolved:

 

That the report be noted.

11.

Quarterly Overview and General Matters Report by Lorelei Watson, Head of Treasury, Pensions and Capital - 9.05 - 9.15

Minutes:

See report by Councillor Mukesh Malhotra, Chair of the Pension Fund Panel and Lorelei Watson, Head of Treasury, Pensions and Capital (agenda item 11)

 

Resolved:

 

That the report be noted. 

12.

Review of Hounslow Pension Fund administration contract by Hitesh Sharma, Strategic Pensions Manager - 9.15 - 9.25

Minutes:

See report by Councillor Mukesh Malhotra, Chair of the Pension Fund Panel and Hitesh Sharma, Strategic Pensions Manager (agenda item 12)

 

Resolved:

 

That the report be noted.

13.

Private Equity Portfolio by Mike Rust, Treasury Management Officer - 9.25 - 9.35

Minutes:

See report by Councillor Mukesh Malhotra, Chair of the Pension Fund Panel and Mike Rust, Treasury Management Officer (agenda item 13)

 

Ms Watson advised that Mike Rust would just be attending the summer meeting in future to present the year end position.

 

Resolved:

 

That the report be noted.

14.

Procurement of proxy voting contract by Rapinder Sangha, Strategic Pensions and Treasury Accountant - 9.35 - 9.40

Minutes:

See report by Councillor Mukesh Malhotra, Chair of the Pension Fund Panel and Rapinder Sangha, Strategic Pensions and Treasury Accountant (agenda item 14)

 

Councillor Todd moved approval, which was seconded by Councillor Lambert and Members voted in favour of the recommendation in the report.

 

Resolved:

 

That the recommendation in the report be approved.

15.

Date of next meeting is 30 March 2017

Minutes:

The date of the next meeting was noted.

16.

Urgent Business

Any business which the Chair agrees to accept on grounds of urgency.

Minutes:

There was no such urgent business.