Members gave consideration to a report of the Director of Pensions that provided outline proposals for changes to MPF’s investment strategy and sought approval for officers to work with the Fund’s independent advisors to develop and implement the proposals.

A letter received from Medact Liverpool and a response from the Chair was attached as an appendix to the report.  The letter and response were pertinent to the strategy proposals.

Appendix 2 to the report contained exempt information. This was by virtue of paragraph(s) 3 of Part 1 of Schedule 12A of Local Government Act 1972 i.e. information relating to the financial or business affairs of any particular person (including the authority holding that information).

Moved by the Chair and formally seconded by Councillor Cherry Povall, it was:

Resolved – That;

1  the outline investment strategy proposals detailed in the appendix be approved.

2  officers be authorised to work with the Fund’s independent advisors to develop and implement the proposals with regular progress reports to the IMWP and the Pensions Committee. 

3  the engagement of specialist investment advice and the additional staffing resources required to support the development and implementation of the investment strategy proposals be approved.

4  the letter from and response to Medact Liverpool be noted.