Agenda item

Report of the Chamberlain.

The Board received the monthly review for March 2017 which detailed the list of current investments. Members discussed the report in detail and, with regard to cash balances, the Chairman advised that a significant proportion of balances would be drawn down over the coming years to fund various major projects (such as Museum of London) and the £200m held as part of the City’s contribution to Crossrail had been paid.

Officers advised that a report would be coming to the Board’s June meetings regarding medium term (i.e. two years) investment options and setting out the timeline for the major projects being funded. In response to a Member’s question regarding UK Index Linked Gilts, officers advised investments could be done via Capita and undertook to report back regarding the period of investment.

RESOLVED – That up to £50m be invested with UK Index Linked Gilts and officers report back as to the period of investment.