Strategic Objectives for Isio as Investment Consultant as approved by Pensions Committee

East Sussex Pension Fund objectives and requirements from consultants

Investment Consultant objectives

Desired outcomes / measurement

 

·         Ensure members’ benefits are met as they fall due

·         Support a long term funding approach that is consistent with a stable and affordable contribution approach from the employers

 

 

·         Advise on a suitable Strategic Asset Allocation and investment strategy.

·         Ensure the strategy is reviewed and amended to deliver the required investment returns from the Fund’s investments in line with Funding Strategy statement.

·         Ensure Risk and return is assessed in all strategic investment decisions supporting the need for pension liabilities of the Fund to be met and support progress towards a long term steady state of funding

·         Deliver an investment approach that reflects the Fund’s cashflow position, and likely evolution, and minimises the risk of forced disinvestment.

 

 

·         Returns from the investment strategy over time are in line with or exceed the assumptions within the Funding Strategy Statement and the funding level remains within the expected range of outcomes

·         The Fund has sufficient cash flow to allow members benefits to be paid when due

 

 

·         Ensure the Fund’s approach is aligned with the objectives of pooling and associated guidance

 

·         Ensure cost efficient implementation of the Fund’s investment strategy

 

·         Advise on the cost efficient implementation of the Fund’s investment strategy as required, taking into account the evolution of the ACCESS pool.

·         Provide clear information so that the Committee is able effectively to monitor the underlying strategies it is invested in.

·         Provide oversight and scrutiny of the ACCESS Investments.

·         Ensure transition costs are considered in manager or asset class changes

·         Consider all associated costs when supporting the fund in manager selection or pool allocation decisions

 

 

·         Evolve performance monitoring and reporting to reflect the investment of assets through the ACCESS pool

·         Ensure a focus on key risk / return priorities

·         Challenge of any areas of poor performance highlighted and solutions identified

 

 

·         Ensure the Fund’s approach reflects relevant regulatory and legislative requirements

 

·         Ensure the Funds Responsible Investment policy is keep under review and is reflected in ongoing governance and decision making processes

 

·         Ensure investment advice complies with relevant pensions regulations, legislation and supporting guidance.

·         Advise and support the Committee in developing the Committee’s policies and beliefs, including those in relation to Responsible Investment.

·         Ensure investment advice reflects the Committee’s policies and beliefs, including those in relation to Responsible Investment considerations.

 

 

·         No instances of non-compliance with relevant regulations

·         Evidence that the Fund’s investment arrangements are consistent in all respects with the Committee’s set of investment beliefs

·         Committee very satisfied with level of support provided

 

 

·         Ensure the Fund’s investment objectives are supported by an effective governance framework

 

 

·         Provide relevant and timely advice.

·         Help the Committee develop knowledge and understanding by providing appropriate training and well structured reports with clear language and supported recommendations.

·         Assist with identifying topics where further training may be beneficial to the Committee

 

 

·         All reports and advice delivered within prescribed timescales

·         Committee Knowledge and Understanding on investment matters increases or remains high

·         Committee are very satisfied with the value of money represented by the services provided