Agenda item

Consideration was given to the report of the Corporate Director, Resources which informed Members of a merger between one of the investment advisers P-Solve Ltd and River and Mercantile Asset Management LLP (for copy see file of Minutes).

At the request of Members, R Bowker, P-Solve provided the Committee with details of the merger and gave an assurance that there would be no change to the service provided to Durham’s Pension Fund.

In response to a question from Councillor Carr about the timing of the merger, Robbie Bowker advised that the merger had been subject to approval by the FCA which had not been received in time to report to the March meeting of the Pension Fund Committee.

Resolved:

That the information given be noted.