The Committee now meets alongside the newly-formed Pension Board which held its latest quarterly meeting on 23 November.
The Committee approved strategic investment proposals including:
The Committee approved two new investments within the Direct Investment Portfolio:
Following the conclusion of a tendering exercise, the Committee approved the appointment from 1 January 2016 of:
The Fund's value as at 31 October 2015 was £15,407m.
The Fund's return for the quarter to 30 September 2015 was -3.2%, a quarter in which the FTSE All Share went down by -5.7%.
As at 30 September 2015, the Fund's value was £14,887m and the estimated funding level was 82.2%.
The committee noted an update on exercises to source multi-credit and private debt investments, and papers on Internal Audit reviews of the Altair pensions administration system and training and qualifications within SPFO.