Issue - meetings

Investment Strategy

 

 

Meeting: 06/07/2009 - Executive (Item 10)

10 Investment Strategy pdf icon PDF 28 KB

Report of Strategic Director Customer Service and Resources

 

Summary

 

This report sets out the revised investment Strategy for treasury operations for 2009/10 and replaces the strategy approved by the Executive on 2nd March 2009

As with the originally approved documents the attached fulfil the Council’s requirement under the Local Government Act 2003 and guidance subsequently issued by the Office of the Deputy Prime Minister (now CLG) in March 2004, to prepare an annual investment strategy.

 

Recommendations

 

The Executive is recommended to:

 

1)         Recommend to Council approval of the revised Investment Strategy 2009/2010.

 

Additional documents:

Decision:

Agreed, with the amendment that the split between specified and non-specified investments should be 50/50.

Minutes:

The Strategic Director Customer Service and Resources submitted a report setting out the revised Investment Strategy for treasury operations for 2009/10, replacing the strategy approved by the Executive on 2 March 2009.

 

Resolved

 

That the revised Investment Strategy 2009/2010, with the amendment that the split between specified and non-specified investments should be 50/50 be recommended to Council for approval.

 

Reasons - The strategy fulfils the Council’s requirement under the Local Government Act 2003 and guidance subsequently issued by the Office of the Deputy Prime Minister (now CLG) in March 2004, to prepare an annual investment strategy.

 

Options

 

Option One

Do nothing. Whilst the current strategy continues to comply fully with the regulatory framework the recommended changes reflect the Council’s consideration of the most recent external developments and newly published guidelines in keeping with our commitment to best practice.

 

Option Two

Impose immediate changes to the Council’s investment portfolio. The Council’s current investment portfolio is sound and the parameters governing those investments appropriate and robust. There is no need to exit current arrangements. To do so could incur unnecessary financial penalties.

 

Option Three

Continue to incorporate best practice, accommodating newly published external guidance via a smooth transitional process re-profiling investments over time.