Agenda

Greater Manchester Pension Fund - Management/Advisory Panel - Friday, 16th July, 2021 10.00 am

Venue: Zoom Meeting

Contact: Carolyn Eaton, Principal Democratic Services Officer  0161 342 3050 or Email: carolyn.eaton@tameside.gov.uk

Media

Items
No. Item

GENERAL BUSINESS

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1.

Chair's Introductory Remarks 10.00am

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2.

Apologies for absence

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3.

Declarations of Interest

To receive any declarations of interest from Members of the Panel.

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4.

Minutes

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4a

Minutes of the Pension Fund Advisory Panel pdf icon PDF 389 KB

To approve as a correct record the Minutes of the meeting of the Pension Fund Advisory Panel held on 19 March 2021.

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4b

Minutes of the Pension Fund Management Panel pdf icon PDF 318 KB

To approve as a correct record the Minutes of the meeting of the Pension Fund Management Panel held on 19 March 2021.

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5.

Local Government (Access to Information) Act 1985

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5a

Urgent Items

To consider any items which the Chair is of the opinion shall be considered as a matter of urgency.

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5b

Exempt Items

The Proper Officer is of the opinion that during the consideration of the items set out below, the meeting is not likely to be open to the press and public and therefore the reports are excluded in accordance with the provisions of the Schedule 12A to the Local Government Act 1972.

 

Items

Paragraphs

Justification

8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 22, 23, 24, 25, 26, 27, 28

3&10, 3&10, 3&10, 3&10, 3&10, 3&10, 3&10, 3&10, 3&10, 3&10, 3&10, 3&10, 3&10, 3&10, 3&10, 3&10, 3&10, 3&10

Disclosure would, or would be likely to prejudice the commercial interests of the Fund and/or its agents which could in turn affect the interests of the beneficiaries and/or tax payers.

 

 

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6.

Pension Fund Working Groups/Local Board Minutes

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6a

Local Pensions Board pdf icon PDF 294 KB

To consider the Minutes of the proceedings of the Local Pensions Board held on 8 April 2021.

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6b

Investment Monitoring and ESG Working Group pdf icon PDF 157 KB

 

To consider the Minutes of the proceedings of the Investment Monitoring and ESG Working Group held on 16 April 2021.

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6c

Administration and Employer Funding Viability Working Group pdf icon PDF 313 KB

To consider the Minutes of the proceedings of the Administration and Employer Funding Viability Working Group held on 16 April 2021.

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6d

Policy and Development Working Group pdf icon PDF 459 KB

To consider the Minutes of the meeting held on 24 June 2021.

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6e

Working Group Membership 2021/22 pdf icon PDF 784 KB

To consider the attached report of the Director of Pensions.

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ITEMS FOR DISCUSSION/DECISION

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7.

Responsible Investment Update Q1 2021 10.20am pdf icon PDF 489 KB

To consider the attached report of the Assistant Director of Pensions Investments.

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8.

Pooling Update 10.30am

To consider the attached report of the Assistant Director, Funding and Business Development.

9.

LGPS PERFORMANCE UPDATE - TRAINING ITEM 10.50am

To receive a presentation from Karen Thrumble (PIRC).

10.

Investment Strategy and Tactical Positioning 21/22 11.20am

To consider the attached report of the Assistant Director of Pensions Investments.

11.

Investment Management Arrangements 11.40am

To receive a presentation from Hymans Robertson.

12.

Performance Dashboard 12.00pm

Report of the Assistant Director of Pensions Investments, attached.

13.

Annual Performance Reports 12.05pm

13a

Long Term Performance 2020/21 - Main Fund and Active Managers

To consider the attached report of the Assistant Director of Pensions Investments.

13b

Cash Management

To consider the attached report of the Assistant Director of Pensions Investments.

13c

Property Management

To consider the attached report of the Assistant Director, Local Investments and Property.

14.

MiFID II: Client Categorisation

To consider the attached report of the Assistant Director of Pensions Investments.

15.

Business Planning, Budget and Risk Management 12.15pm

To consider the attached report of the Director of Pensions.

16.

Employer Flexibilities 12.20pm

To consider the attached report of the Assistant Director, Funding and Business Development.

17.

Advisor Comments and Questions

ITEMS FOR INFORMATION

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18.

LGPS UPDATE

To consder the attached report of the Director of Pensions.

19.

Future Development Opportunities

Trustee development opportunities are available as follows.  Further information/details can be obtained by contacting Loretta Stowers on 0161 301 7151.

 

European Real Estate Debt: A Compelling Market Opportunity (Barings LLC)

 

30 July 2021

PLSA Annual Conference - Virtual

 

12 - 14 October 2021

LGE Fundamentals Training Day 1 – Leeds

 

21 October 2021

LGE Fundamentals Training Day 2 – Leeds

 

18 November 2021

LGE Fundamentals Training Day 3 – Leeds

 

8 December 2021

LAPFF Annual Conference – Bournemouth

 

8 – 10 December 2021

LGE Annual Governance Conference – Bournemouth

 

20 – 21 January 2022

 

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20.

Dates of Future Meetings

To note the dates of future meetings to be held on:-

 

Management/Advisory Panel

17 Sept 2021

10 Dec 2021

18 Mar 2022

Local Pensions Board

29 July 2021

30 Sept 2021

13 Jan 2022

7 April 2022

Policy and Development Working Group

2 Sept 2021

25 Nov 2021

3 Mar 2022

Investment Monitoring and ESG Working Group

30 July 2021

1 Oct 2021

21 Jan 2022

8 April 2022

Administration and Employer Funding Viability Working Group

30 July 2021

1 Oct 2021

1 Jan 2022

8 April 2022

 

 

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WORKING PAPERS - APPENDICES

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21.

APPENDIX 7A - GMPF's Responsible Investment Partners and Collaborations pdf icon PDF 207 KB

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22.

APPENDIX 8A - Northern LGPS Joint Committee Minutes - 15 4 21

23.

APPENDIX 8B - VfM Proposal

24.

APPENDIX 11A - Hymans Robertson Report and presentation

25.

APPENDIX 15A - GMPF Business Plan

26.

APPENDIX 15B & C - Budget and Medium Term Financial Planning

27.

APPENDIX 15D - Risk Register

28.

APPENDIX 16A - Draft Employer Flexibilities Policy