Agenda item

A report of the Chief Grants Officer (copy attached).

The Chief Grants Officer introduced an update on issues affecting the social investment fund portfolio and its current investments.

The Board proceeded to discuss the preferred format and content of future portfolio updates before going on to outline the character of future investments. 

RESOLVED, that:

·         The portfolio report be received and its contents noted;

·         Officers note suggestions from the Board over the preferred format of investment reporting;

·         Officers note the preference of the Board for direct investment, or at least indirect investment in only one fund manager rather than funds of funds;

·         An overview of the social investment fund targets for year 2 be submitted to the Board at its next meeting in December 2013.