Investment Subcommittee

Tuesday 25 September 2018 at 8.30am

 

 

AGENDA

 


Investment Subcommittee

25 September 2018

Investment Subcommittee Agenda

 

Meeting to be held in the Whale Bay Room

36 Water Street, Whangārei

on Tuesday 25 September 2018, commencing at 8.30am

 

Recommendations contained in the agenda are NOT decisions of the meeting.

Please refer to minutes for resolutions.

 

 

MEMBERSHIP OF THE Investment Subcommittee

Cr John Bain (Chair)          Cr Bill Shepherd          Cr Penny Smart

Mr Geoff Copstick          Cr Rick Stolwerk (Alternate)

 

 

Item                                                                                                                                                                                   Page

 

1.0       apologies   

 

2.0       declarations of conflicts of interest

 

3.0       Confirmation of Minutes

3.1       Confirmation of Minutes                                                                                                                         3

 

4.0       Reports

4.1       Performance of council's externally managed funds to August 2018                                    7

             Simon Crabb - Finance Manager   

 

5.0       Business with the Public Excluded

5.1       Review of Investment Report                                                                                                              32  

   


Investment Subcommittee                                                                                                                                         item: 3.1

25 September 2018

 

TITLE:

Confirmation of Minutes

ID:

A1108976

From:

Dave Tams, Group Manager, Corporate Excellence

 

Executive Summary

The purpose of this report is to present for confirmation the minutes of the Investment SubCommittee meeting held on 29 August 2018.

Councils are required to keep minutes of proceedings in accordance with the Local Government Act 2002.

 

Recommendation

That the minutes of the Investment SubCommittee meeting held on 29 August 2018 be confirmed as a true and correct record.

 

Attachments

Attachment 1: Investment SubCommittee Minutes - 29 August 2018  

Authorised by Group Manager

Name:

Dave Tams

Title:

Group Manager, Corporate Excellence

Date:

14 September 2018

 


Investment Subcommittee  ITEM: 3.1

25 September 2018Attachment 1

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Investment Subcommittee                                                                                                                                         item: 4.1

25 September 2018

 

TITLE:

Performance of council's externally managed funds to August 2018

ID:

A1109362

From:

Simon Crabb, Finance Manager

 

Executive Summary

A summary of the returns and target objectives for the month of August 2018 for each externally managed fund is presented below, with the supporting detail and fund performance for longer periods contained in Attachment 1.

 

 

The CIF, PRF and STIF outperformed their objectives over all the periods reported. The IIF underperformed its objective over the 1-year, 3-year and since inception periods partly due to the increase in its objectives and change in growth/income splits.

 

Recommendation

That the report ‘Performance of council's externally managed funds to August 2018’ by Simon Crabb, Finance Manager and dated 17 September 2018, be received.

 

Background

Community Investment Fund (CIF)

At 31 August 2018, the CIF had a market value of $14.4M and had performed as follows:

Property Reinvestment Fund (PRF)

At 31 August 2018, the PRF had a market value of $15.1M and performed as follows:

Infrastructure Investment Fund (IIF)

At 31 August 2018, the IIF had a market value of $11.6M and performed as follows:


 

Short Term Investment Fund (STF)

At 31 August 2018, the STF had a market value of $1.7M and performed as follows:

 

 

Attachments

Attachment 1: Northland Regional Council Externally Managed Investment Fund - Monthly Report to 31 August 2018  

Authorised by Group Manager

Name:

Dave Tams

Title:

Group Manager, Corporate Excellence

Date:

19 September 2018

 


Investment Subcommittee  ITEM: 4.1

25 September 2018Attachment 1

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Investment Subcommittee                                                                                                                                          ITEM: 5.0

25 September 2018

 

TITLE:

Business with the Public Excluded

 

Executive Summary

The purpose of this report is to recommend that the public be excluded from the proceedings of this meeting to consider the confidential matters detailed below for the reasons given.

Recommendations

1.              That the public be excluded from the proceedings of this meeting to consider confidential matters.

2.              That the general subject of the matters to be considered whilst the public is excluded, the reasons for passing this resolution in relation to this matter, and the specific grounds under the Local Government Official Information and Meetings Act 1987 for the passing of this resolution, are as follows:

Item No.

Item Issue

Reasons/Grounds

5.1

Review of Investment Report

The public conduct of the proceedings would be likely to result in disclosure of information, the withholding of which is necessary to protect information where the making available of the information would be likely unreasonably to prejudice the commercial position of the person who supplied or who is the subject of the information s7(2)(b)(ii) and the withholding of which is necessary to enable council to carry out, without prejudice or disadvantage, commercial activities s7(2)(h).

 

Considerations

1.    Options

Not applicable. This is an administrative procedure.

2.    Significance and Engagement

This is a procedural matter required by law. Hence when assessed against council policy is deemed to be of low significance.

3.    Policy and Legislative Compliance

The report complies with the provisions to exclude the public from the whole or any part of the proceedings of any meeting as detailed in sections 47 and 48 of the Local Government Official Information Act 1987.

4.    Other Considerations

Being a purely administrative matter; Community Views, Māori Impact Statement, Financial Implications, and Implementation Issues are not applicable.