Issue - meetings

24.1     The Board considered a report on the LGPS Management & Investment of Funds Regulations 2016 and Investment Strategy Statement (ISS).

24.2     The Chair observed that the Secretary of State’s Power of Direction to intervene in the investment function of an Administering Authority is most likely to be exercised on  pension funds identified by the DCLG as the worst performing or where authority’s investment functions is failing to act in accordance with guidance issued under regulation.

24.3     The Board RESOLVED to note the report.