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Venue: Committee Rooms - West Wing, Guildhall

Contact: Joseph Anstee
tel. no.: 020 7332 1480  Email: joseph.anstee@cityoflondon.gov.uk

Items
No. Item

1.

Apologies

Minutes:

Apologies for absence were received from Deputy Jamie Ingham Clark, Deputy Clare James, Ian Seaton and Deputy Philip Woodhouse.

 ...  view the full minutes text for item 1.

2.

Members' Declarations under the Code of Conduct in respect of items on the agenda

Minutes:

There were no declarations.

 ...  view the full minutes text for item 2.

3.

Minutes of the previous meeting pdf icon PDF 63 KB

To agree the public minutes and non-public summary of the meeting held on 12 July 2018.

 ...  view the full agenda text for item 3.

Minutes:

RESOLVED - That the public minutes and non-public summary of the meeting held on 12 July 2018 be agreed as a correct record.

 ...  view the full minutes text for item 3.

4.

Outstanding Actions pdf icon PDF 35 KB

Report of the Town Clerk

 ...  view the full agenda text for item 4.

Minutes:

The Chamberlain advised that a date for Member training was still being identified and it was hoped a session could be arranged for early December.

 

RESOLVED – That the report be noted.

 ...  view the full minutes text for item 4.

5.

Monthly Investment Analysis pdf icon PDF 314 KB

Report of the Chamberlain

 ...  view the full agenda text for item 5.

Additional documents:

Minutes:

The Board received a report of the Chamberlain concerning the monthly investment analysis review for May 2018. The Board noted the current investment list and total investment values set out in the report. Members noted that the yield listed in relation to the two short dated bond funds was likely understated as the historic figure, looking at the previous 12 months, was given rather than the current figure. This was likely to be higher at present because of the recent increase to the base interest rate.

 

A Member queried the totals given under Ultra Short Dated Bond Funds as they appeared not to be correct. The Chamberlain responded that this was as two of the funds had been counted elsewhere but would look at how this could be shown on the chart as it was not clear.

 

A Member asked if there was a target number looking forward for the weighted average rate of return. The Chamberlain responded that there was an estimate for the current year of 50 basis points, and revised estimates would be calculated soon. The estimated weighted average rate of return did not form part of the Treasury Management Strategy as a performance indicator, although it contributed to budget plans as these were partly based on assumed income.

 

RESOLVED – That the report be noted.

 ...  view the full minutes text for item 5.

6.

End of Year Treasury Management Review 2017/18 pdf icon PDF 117 KB

Report of the Chamberlain

 ...  view the full agenda text for item 6.

Minutes:

The Board received a report of the Chamberlain, providing an end of year report reviewing Treasury Management in 2017/18. The Chamberlain introduced the report and set out the main points as highlighted in the report summary.

 

RESOLVED – That the report be noted.

 ...  view the full minutes text for item 6.

7.

Questions on matters relating to the work of the Committee

Minutes:

There were no questions.

 ...  view the full minutes text for item 7.

8.

Any Other Business that the Chairman considers urgent

Minutes:

There was no other business.

 ...  view the full minutes text for item 8.

9.

Exclusion of the Public

MOTION - That under Section 100(A) of the Local Government Act 1972, the public be excluded from the meeting for the following items on the grounds that they involve the likely disclosure of exempt information as defined in Part I of the Schedule 12A of the Local Government Act.

 ...  view the full agenda text for item 9.

Minutes:

RESOLVED - That under Section 100(A) of the Local Government Act 1972, the public be excluded from the meeting for the following items on the grounds that they involve the likely disclosure of exempt information as defined in Part I of the Schedule 12A of the Local Government Act.

 

Item No.                                                          Paragraph(s) in Schedule 12A

10 – 15                                                                                    3

16 – 17                                                                                    -

 ...  view the full minutes text for item 9.

10.

Non-public minutes of the previous meeting

To agree the non-public minutes of the meeting held on 12 July 2018.

 ...  view the full agenda text for item 10.

Minutes:

RESOLVED - That the non-public minutes of the meeting held on 12 July 2018 be agreed as a correct record.

 ...  view the full minutes text for item 10.

11.

Non-Public Outstanding Actions

Report of the Town Clerk

 ...  view the full agenda text for item 11.

Minutes:

The Board received a list of non-public outstanding actions.

 ...  view the full minutes text for item 11.

12.

Investment Monitoring Reports

Report of the Chamberlain

 ...  view the full agenda text for item 12.

Minutes:

12a

Investment Monitoring to 30 June 2018

Report of the Chamberlain

 ...  view the full agenda text for item 12a

Minutes:

12b

Quarterly Monitoring Report

Report of Mercer

 ...  view the full agenda text for item 12b

Minutes:

The Board received reports of the Chamberlain and of Mercer.

 ...  view the full minutes text for item 12b

13.

Multi Asset Manager Search

Minutes:

The Board considered a report of the Chamberlain.

 ...  view the full minutes text for item 13.

14.

Global Manager Search - City's Cash and Bridge House Estates

Report of the Chamberlain and Mercer

 ...  view the full agenda text for item 14.

Minutes:

The Board considered a report of the Chamberlain.

 ...  view the full minutes text for item 14.

15.

ESG Update Report

Report of the Chamberlain and Mercer

 ...  view the full agenda text for item 15.

Minutes:

The Board considered a report of the Chamberlain.

 ...  view the full minutes text for item 15.

16.

Non-public questions on matters relating to the work of the Committee

Minutes:

There were two non-public questions.

 ...  view the full minutes text for item 16.

17.

Any Other Business that the Chairman considers urgent and which the Committee agree should be considered whilst the public are excluded

Minutes:

There was one item of other business.

 ...  view the full minutes text for item 17.

 


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