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Investment Subcommittee Tuesday 25 September 2018 at 8.30am
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Investment Subcommittee Tuesday 25 September 2018 at 8.30am
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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
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TITLE: |
Confirmation of Minutes |
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ID: |
A1108976 |
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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.
That the minutes of the Investment SubCommittee meeting held on 29 August 2018 be confirmed as a true and correct record.
Attachment 1: Investment SubCommittee
Minutes - 29 August 2018 ⇩ 
Authorised by Group Manager
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Name: |
Dave Tams |
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Title: |
Group Manager, Corporate Excellence |
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Date: |
14 September 2018 |
Investment Subcommittee item: 4.1
25 September 2018
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TITLE: |
Performance of council's externally managed funds to August 2018 |
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ID: |
A1109362 |
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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.
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:
Attachment 1: Northland Regional
Council Externally Managed Investment Fund - Monthly Report to 31 August 2018 ⇩ 
Authorised by Group Manager
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Name: |
Dave Tams |
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Title: |
Group Manager, Corporate Excellence |
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Date: |
19 September 2018 |
Investment Subcommittee ITEM: 5.0
25 September 2018
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TITLE: |
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.
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:
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Item No. |
Item Issue |
Reasons/Grounds |
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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.
