Issue - meetings

The Committee had before it a report by the Chief Officer – Finance which presented a review of the investment activity of the North East Scotland Pension Fund for the three month period ending 30 September 2025.

Members heard from Mr Buntain in respect of the report and asked a number of questions.

The report recommended:-

that the Committee note the contents of the report for assurance.

The Committee resolved:-

(i)       in relation to the table on page 86 of the report, to note the request from Members that certain portfolios/funds be separated out, and that officers would ascertain how this could be done in future reports;

(ii)       to note that officers would ascertain what was meant by ‘monthly run-rate household passings’ (section 11.7, page 105) and advise Councillor van Sweeden outwith the meeting;

(iii)      to note that officers would provide further detail to Councillor van Sweeden outwith the meeting in relation to the table on page 121 of the report, particularly in respect of the voting on Directors;

(iv)      to note that officers would consider whether there were other ways to measure performance should the benchmark not be met, and whether those measures could be built into the report;

(v)      to note that officers would provide information to Members outwith the meeting in respect of the synchronous compensator project (page 150 of the report); and

(vi)      to note the report.

-       COUNCILLOR NEIL MACGREGOR, Convener