The Director of Merseyside Pension Fund introduced the report to Members. The purpose of the report was to seek approval from Members for a revised investment strategy for Merseyside Pension Fund (MPF) which had been the subject of consideration and discussion at recent Investment Monitoring Working Parties. The expectation was that the revised strategy would deliver superior risk adjusted returns and a higher level of income.

Members thanked the officers for their work, noting it had been very constructive, and had evolved into a sensible strategy. In response to a member query in regard to information about when the responsible investment and climate risks workstreams would be brought to Committee, officers advised Members that the additional working party should allow the Committee more time to consider and expedite these issues.

Resolved - That the investment strategy and strategic asset allocation and the actions and recommendations set out in appendix 1 be approved.