In accordance with the guidance from Government, West Yorkshire Pension Fund (WYPF) together with Greater Manchester and Merseyside are working towards the creation of an investment pool, Northern LGPS (NLGPS).

The report of the Director, West Yorkshire Pension Fund, (Document AA” which contains Not for Publication Appendices 1 & 2) sets out the progress in establishing the Northern LGPS (NLGPS) covering:-

·         Drafting the Northern Pool Operating Agreement, including the Terms of Reference for the Joint Committee.

·         Procuring a joint custodian for all assets of the Pool.

·         Developing the GLIL Infrastructure Vehicle (including FCA regulation to facilitate it becoming the national LGPS vehicle for infrastructure investment)

·         Developing a joint private equity vehicle.

Recommended –

That the progress to date, contained in Document “AA”, be noted.

(Rodney Barton – 01274 432317)

Resolved –

That progress to date, contained in Document “AA” be noted.

ACTION:       Director, West Yorkshire Pension Fund

The report of the Director, West Yorkshire Pension Fund, (Document “AA”) set out progress in establishing the Northern LGPS (formerly the Northern Pool), covering:-

·         Drafting the Northern LGPS Operating Agreement, including the Terms of Reference for the Joint Committee

·         Procuring a joint custodian for all the assets of NLGPS

·         Developing the GLIL infrastructure vehicle (including FCA regulation to facilitate it becoming the national LGPS vehicle for infrastructure investment)

·         Developing a joint private equity vehicle.

Resolved –

That progress to date, contained in Document “AA” be noted.

ACTION:       Director, West Yorkshire Pension Fund