Costs A shares at a cost of £1 to acquire Funding Nil (Capital) the Fund's share of ownership of BCPP (Capital) Ltd., and Class B shares at a cost of as 1/12th share of the €833,333.34 €10 million required to be set up as the required regulatory capital for an investment management company of the structure proposed by BCPP. Both paid by Teesside Pension Fund. Estimated Cost Benefit Projected Funding Project Cost (£) Additional Cost Cost / Benefit Payback Period (£) Income (£) Reduction (£) (Mth) (£) Nil Nil Nil Nil Nil Nil Benefits - Non-financial or Non-cashable (e.g. staff time) Measure Description Current Target Regulations Compliance with LGPS Regulations There is a Full compliance dependency on BCPP to be ready to receive investment assets. TPF proposals regarding use of BCPP when are available and pass the Fund's due diligence test. Resilience Based on the plans for staffing at TPF Risk with current Resilience across all (if internal management continued) staffing situation investment asset and BCPP (if assets transferred to BCPP in the run up to groups. to manage), greater resilience to pooling. Staff management of the Fund's investment numbers may assets. reduce to a point where the Fund cannot be managed effectively. Mitigating by exploring a plan of transforming the investment assets to units in unit trusts (passive funds) which require much less intensive management and
Costs (Capital) A shares at a cost of £1 to acquire the Fund's share of ownership of BCPP Ltd., and Class B shares at a cost of €833,333.34 as 1/12th share of the €10 million required to be set up as the required regulatory capital for an investment management company of the structure proposed by BCPP. Both paid by Teesside Pension Fund. Funding (Capital) Nil Estimated Cost Benefit Projected Funding (£) Project Cost (£) Additional Income (£) Cost Reduction (£) Cost / Benefit (£) Payback Period (Mth) Nil Nil Nil Nil Nil Nil Benefits - Non-financial or Non-cashable (e.g. staff time) Measure Description Current Target Regulations Compliance with LGPS Regulations There is a dependency on BCPP to be ready to receive investment assets. TPF proposals regarding use of BCPP when are available and pass the Fund's due diligence test. Full compliance Resilience Based on the plans for staffing at TPF (if internal management continued) and BCPP (if assets transferred to BCPP to manage), greater resilience to management of the Fund's investment assets. Risk with current staffing situation in the run up to pooling. Staff numbers may reduce to a point where the Fund cannot be managed effectively. Mitigating by exploring a plan of transforming the investment assets to units in unit trusts (passive funds) which require much less intensive management and Resilience across all investment asset groups.
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