Agenda Item No


The Vale of Glamorgan Council


Trust Committee: 28th January 2013


Report of the Managing Director


Letter of Engagement for Bluefin - Independent Financial Advisers to Cowbridge Comprehensive School Trust


Purpose of the Report

1.             To provide Trustees with a copy of the Letter of Engagement for Bluefin for review


1.             That Letter of Engagement is considered and agreed by Trustees.

Reasons for the Recommendations

1.             Trustees to review the terms of the agreement with Bluefin Personal Consulting Ltd and ensure the appropriate documentation is in place to support the agreement


2.             Trust appointed Chambers Morgan James and Independent Financial Adviser to the Cowbridge Comprehensive Trust at Committee on 23rd January 2006.

3.             Chambers Morgan James subsequently became part of Bluefin Personal Consulting Ltd.

4.             In order to progress the investment recommendations approved at Trust Committee on the 27th November Bluefin Consulting Ltd require a Letter of Engagement with them to be in place.

5.             Once approved by Trustees the Letter of Engagement will be signed by the Head of Legal Services on behalf of Cowbridge Comprehensive School Trust.

Relevant Issues and Options

6.             A copy of the Letter of Engagement is shown at Appendix A

Resource Implications (Financial and Employment)

7.             The Letter of Engagement sets the implementation fee at 1% and the ongoing fee for review and monitoring at 0.7%.

Sustainability and Climate Change implications

8.             There are no sustainability and climate change implications

Legal Implications (to Include Human Rights Implications)

9.             The Trust is required to abide by the conditions contained in the Charities Act 2011.

Crime and Disorder Implications

10.        There are no crime and disorder implications.

Equal Opportunities Implications (to include Welsh Language issues)

11.        There are no equal opportunities implications.

Corporate/Service Objectives

12.        The sole concern of the Trustees is to act in the best interests of the Trust.

Policy Framework and Budget

13.        Not applicable.

Consultation (including Ward Member Consultation)

14.        None.

Relevant Scrutiny Committee

15.        None.

Background Papers


Contact Officer

Gemma Jones, Accountant, Resources

01446 709141

Officers Consulted

Head of Legal Services.

Responsible Officer:

Managing Director