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Item 7 - London CIV: Progress report and proposed next steps towards a London LGPS CIV

Summary    

1.    Leaders’ Committee last received an update an update on progress towards the establishment of a collective investment vehicle (CIV) at its meeting of 15 July 2014. Since then detailed work has continued to establish the CIV as a vehicle for London local government to use as a route to greater collaboration and efficiency in the investment of their pension funds.
2.    This report provides an update on that detailed work highlighting a number of significant milestones that have been achieved and setting out current plans to take the CIV to launch and beyond.

Recommendations    

Leaders’ Committee is asked to:
i)    Note the progress update and next steps provided in this report.