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Agenda and minutes

Brent Pension Fund Sub-Committee - Wednesday 18 April 2012 9.00 am

Venue: Committee Room 4 - Brent Town Hall

Contact: Joe Kwateng, Democratic Services Officer (020) 8937 1354, Email: joe.kwateng@brent.gov.uk

Items
No.	Item
1.	Declarations of personal and prejudicial interests Members are invited to declare at this stage of the meeting, any relevant financial or other interest in the items on this agenda. Minutes: None declared.
2.	Exclusion of press and public The report is not for publication as it contains the following categories of exempt information as specified in Schedule 12A of the Local Government Act 1972, namely information relating to the financial or business affairs of any particular person (including the authority holding that information. Minutes: RESOLVED: that the press and public be excluded from the whole of this meeting as the reports to be considered report contained the following categories of exempt information as specified in Schedule 12A of the Local Government Act 1972, namely information relating to the financial or business affairs of any particular person (including the authority holding that information.
3.	Diversified growth fund - manager appointment View the reasons why item 3. is restricted The report details the issues to be considered in the appointment of a Diversified Growth Fund manager. The appendix to the report has been produced separately and sent to members only. The order of business for the meeting will be as follows: 9.15 am Briefing on DGF houses, issues and questions 10.00 am Baring Asset Management – Andrew Benton, Percival Stanion 11.00 am Baillie Gifford & Co. – Tom Wright, James Squires 12.00 pm Standard Life Investments – Len Currie, David Millar 13.00 pm Lunch, discussion and appointment Minutes: The following managers presented to the sub-committee and were interviewed:- Baillie Gifford & Co Baring Asset Management Standard Life Investments Following discussions, it was: RESOLVED: that the Brent Fund should invest £30m in the Diversified Fund managed by Baillie Gifford. It was planned that the investment would be funded in June.