Statement of Investment Principals 30 September 2019 - Flipbook - Page 7
The day-to-day activities that the Investment Managers carry out for the Trustee are
subject to regular internal reviews and external audits by independent auditors to ensure
that operating procedures and risk controls remain appropriate.
Safe-keeping of the assets underlying the Scheme’s investments with LGIM and Ruffer is
performed by independent custodians appointed by the Investment Managers.
The Trustee has considered the financial security of the Scheme’s holdings with the
Investment Managers, together with their status as regulated firms, and considers the
associated protection offered to investors to be reasonable and appropriate.
The Trustee will monitor the investment and funding risks faced by the Scheme with the
assistance of its investment advisers and the Scheme Actuary at least every three years.
The Trustee will consider the appropriateness of implementing additional risk mitigation
strategies as part of such reviews.
In addition, the Trustee will review wider operational risks as part of maintaining its risk
register for the Scheme.