Annual Report and Accounts 2006

Management structure

Tameside MBC became the Fund’s administering authority in 1987, and established a management structure which is still the backbone of the operation today.

Pension Fund Management Panel

The Management Panel carries out a similar role to the trustees of a pension scheme. They are the key decision makers for:

• Investment management
  
• Monitoring investment activity and performance
  
• Overseeing administrative activities
  
• Guidance to officers in exercising delegated powers

Pension Fund Advisory Panel

The Pension Fund Advisory Panel works closely with the Management Panel, and advises them in all areas. Each local authority is represented on the Advisory Panel, and there are six employee representatives nominated by the North West TUC.

Working groups

The Fund also has four working groups which consider particular areas of its activities and make recommendations to the Management Panel. These working groups cover:

• Ethics & Audit
• Local Initiatives & Venture Capital
  
• Information Services
  
• Property

External advisors

Three external advisors assist the Advisory Panel, in particular regarding investment related issues. A key element is helping them to question the portfolio managers on their activities. The advisors are:

RS Bowie BSc, FFA, Partner, Hymans Robertson
P Moizer MA(Oxon), MA(Econ), PhD, FCA, Professor, University of Leeds
J Hemingway, BA(Econ), Investment Manager

Management Panel
Councillor SR Oldham CBE, CEng, MIMechE -
Tameside (Chair)
Councillor M Wareing MBE - Tameside (Deputy Chair)
Councillor GR Ambler - Tameside
Councillor GP Cooney - Tameside
Councillor A Doubleday - Tameside
Councillor C Grantham - Tameside
Councillor CA Meredith - Tameside
Councillor J Middleton - Tameside
Councillor K Quinn -Tameside
Councillor VP Ricci - Tameside
Councillor MC Sidebottom - Tameside
Councillor BJ Walsh - Tameside
Councillor M Whitley - Tameside
Councillor P Wilkinson - Tameside
Councillor N Spencer - Bolton
Councillor P Fairweather - Manchester
Councillor JN Pantall BSc - Stockport
Councillor A Mitchell - Trafford
Councillor JB Baldwin – Wigan

Advisory Panel
Councillor SR Oldham CBE, CEng, MIMechE - Tameside (Chair)
Councillor N Spencer - Bolton
Councillor G Sharkey - Bury
Councillor P Fairweather - Manchester
Councillor D Jones - Oldham
Councillor AJ Brett - Rochdale
Councillor WB Pennington - Salford
Councillor JN Pantall BSc - Stockport
Councillor A Mitchell - Trafford
Councillor JB Baldwin – Wigan

Employee representatives
F McCann - GMBATU          
J Thompson - UCATT
A Mulryan - AMICUS           
M Baines - UNISON
F Llewellyn - TGWU
N Linsky – UNISON

Working group chairs
Councillor J Middleton - Ethics & Audit
Councillor GP Cooney - Local Initiatives & Venture Capital
Councillor M Wareing MBE - Information Services
Councillor M Whitley - Property

Officers to the Fund

The Director of Pensions is the administrator of the Fund, and acts as the link for members, advisers and investment managers between meetings.

The Chief Executive and Borough Solicitor provide legal and secretarial services to the Management and Advisory Panels. The Borough Treasurer is responsible for the preparation of the Fund’s Statement of Accounts.

JE Callender, LLB, Chief Executive, Tameside MBC
P Morris CPFA, Director of Pensions, Tameside MBC
SJ Stewart BSc, Solicitor to the Fund
D Postlethwaite BA, CPFA, Borough Treasurer, Tameside MBC

Consulting Actuary

The Fund’s Consulting Actuary is Hymans Robertson.

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