Venue: Committee Rooms - West Wing, Guildhall
Contact: Philippa Sewell
tel. no.: 020 7332 1426
Email: philippa.sewell@cityoflondon.gov.uk
No. | Item |
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Apologies Minutes: Apologies were received from Simon Duckworth, Tom Hoffman and Edward Lord. |
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Members' Declarations under the Code of Conduct in respect of items on the agenda Minutes: Philip Woodhouse declared an interest in item 10, by virtue of being a client of Ruffer, and Ian Seaton declared a non-pecuniary interest in the same item by being acquainted with Jonathan Ruffer. |
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Minutes of the previous meeting PDF 181 KB To agree the public minutes and non-public summary of the meeting held on 26 May 2016. Minutes: RESOLVED - That the public minutes and non-public summary of the meeting held on 26 May 2016 be agreed as a correct record. |
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Report of the Town Clerk. Minutes: RESOLVED – That the report be noted. |
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MONTHLY INVESTMENT ANALYSIS REVIEW PDF 343 KB Report of the Chamberlain. Additional documents: Minutes: The Board received the monthly review for May 2016, which detailed the list of current investments.
Brexit Members discussed the impact Brexit was having on investment markets, and was likely to have over the near future. The Chamberlain advised that, from a treasury management perspective, the Corporation was in a good position. In response to a Member’s question, it was noted that the Corporation’s counterparty list was made up of small, high quality banks, and was based on the credit ratings of three organisations. Only one of these had downgraded any ratings, and Members were advised that these remained within the Corporation’s parameters. Members noted that senior officers in the Chamberlain’s department received daily updates on the counterparty list and met regularly to discuss the present situation and the next twelve months, and were satisfied with the Corporation’s position.
RESOLVED – That the report be noted. |
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Questions on matters relating to the work of the Committee Minutes: There were no questions. |
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Any Other Business that the Chairman considers urgent Minutes: There was no other business. |
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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. 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 9-14, 16 3 15 - |
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Non-public minutes of the previous meeting To agree the non-public minutes of the meeting held on 26 May 2016. Minutes: RESOLVED - That the non-public minutes of the meeting held on 26 May 2016 be agreed as a correct record. |
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Presentation from Ruffer Presentation from Steve Russell, Investment Director at Ruffer. Minutes: The Board received a presentation from Steve Russell and David Ballance, Investment Directors of Ruffer. |
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Hampstead Heath Trust & Charities Pool Investment Performance Monitoring to 31 March 2016 Report of the Chamberlain. Minutes: The Board received a report of the Chamberlain regarding the performance of the Hampstead Heath and Charities Pool. |
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Investment Performance Monitoring to 31 March 2016 Report of the Chamberlain. Minutes: The Board received a report of the Chamberlain regarding investment performance. |
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Quarterly Monitoring Report Report of Mercer. Minutes: The Board received a report of Mercer regarding investment performance. |
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Property Options for Pension Fund Report of Mercer. Minutes: The Board received a report of Mercer regarding property investment options. |
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Non-public questions on matters relating to the work of the Committee Minutes: There were no non-public questions. |
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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. |