Resolved – That the exempt appendix be noted.

The Director of Pensions introduced representatives from the Fund’s newly appointed Strategic Advisors Redington, Jill Davys (Head of LGPS) and Tom Pilcher (Lead Consultant). Members of the Board were provided with a background to Redington as an independent investment consultancy firm, whose mission statement was to help make 100 million people financially secure, for the benefit of people and planet. The firm’s 4 key specialisms were outlined as a proprietary structured framework approach, alongside how a ‘ROSIE’ approach was to be adopted (Research, Objectives, Strategy, Implementation, Evaluation) in undertaking work. A timeline of work was provided to the Board, whilst an outline of the process for a stakeholder survey exercise was noted.

In response to several members questions, it was affirmed that:

• Redington aimed to ensure that the Fund’s strategy served its objectives through having a clear framework to reference.
• A range of stakeholders would be issued with the survey, including Pensions Committee members, Local Pensions Board Members, and officers such a s151 officers and other interest parties.
• It was important to recognise the survey was not deterministic, and would identify matters where further information was required and areas to be explored in more detail.

Resolved – That the appointment of Redington as Strategic Investment Advisors to Merseyside Pension Fund be noted.