The Panel approved an allocation of up to 1-2% of total assets of total assets to the Impact Investment portfolio on 24 June 2021. The report includes an analysis of the required pacing of commitments necessary to meet the target allocation within a reasonable and sensible timeframe, whilst also prescribing appropriate diversification targets on the portfolio. The Local Investments team is responsible for selecting managers and funds consistent with the approved strategy.
The Director has delegated authority to sign off investments of this nature.