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No. | Item |
---|---|
APOLOGIES To receive
any apologies for absence Minutes: Apologies were received from Councillors Seimon Glyn and H. Eifion Jones
(Isle of Anglesey County Council Representative) |
|
DECLARATION OF PERSONAL INTEREST To receive
any declaration of personal interest Minutes: None to
note |
|
URGENT ITEMS To note any
items which are urgent business in the opinion of the Chairman so that they may
be considered Minutes: None to
note |
|
The
Chairman shall propose that the minutes of the meeting of this committee held
on 9.6.2016 to be signed as a true record Minutes: The Chair signed the
minutes of a meeting of this committee, held on 9 June 2016, as a true record. |
|
TREASURY MANAGEMENT 2015/16 PDF 335 KB Consider
the report of the Investment Manager Minutes: (a)
A report was submitted by
the Investment Manager detailing how the Pension Fund’s cash was invested along
with the Council’s money in 2015/16. The report responded to the requirements
of the Welsh Government’s Statutory Guidance. (b) It was
outlined that the security of the investment was the Authority's main
investment objective and it was explained how the money had been invested in
order to maximise the benefits. It was noted that combining the funds sought
better returns. (c) The recommendation to accept the report
was proposed and seconded. THE REPORT OF THE
INVESTMENT MANAGER WAS RECEIVED FOR INFORMATION |
|
Consider
the Head of Finance Report Minutes: (a)
Submitted - the report of
the Head of Finance Department recommending that the Committee accepted the
offer from Fidelity of a new fee scale in order to seek to reduce costs. With
the fund having secured significant savings from the reductions in Blackrock
fees as a result of passive equity investments pooling of the Welsh funds,
there was an opportunity to review the Fidelity fees. It was noted that the
risks had been considered and that advice had been received from Hymans (which
had been circulated to Committee Members), recommending moving to a new fee
scale. It was reiterated that the pooling of funds had led to the offer which
was likely to be advantageous to the Fund. (b)
The recommendation was
proposed and seconded. RESOLVED TO ACCEPT
THE OFFER FROM FIDELITY OF NEW FEE SCALE FORTHWITH |