Agenda item

Report of the Chamberlain

The Board received a report of the Chamberlain concerning the monthly investment analysis review for October 2017. The report detailed the list of current investments and their performance and provided an update on the general economic outlook.

Members noted that the Corporation’s current treasury investments amounted to £860m with a weighted average rate of return of 0.53%. A Member queried the number of local authorities that appeared on the list of current investments. The Chamberlain confirmed that these were short-term deposits over which durations local authorities offered competitive lending rates. The recent rise in base rate had not fully filtered through all the money markets yet but the expectation is this will begin to impact the portfolio’s overall return in the coming months.

RESOLVED – That the report be noted.