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Investment Subcommittee Wednesday 24 October 2018 at 8.30am
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Investment Subcommittee Wednesday 24 October 2018 at 8.30am
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Investment Subcommittee
24 October 2018
Investment Subcommittee Agenda
Meeting to be held in the Whale Bay Room
36 Water Street, Whangārei
on Wednesday 24 October 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 September 2018 7
Simon Crabb - Finance Manager
5.0 Business with the Public Excluded 35
5.1 Confirmation of Minutes
Investment Subcommittee item: 3.1
24 October 2018
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TITLE: |
Confirmation of Minutes |
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ID: |
A1120428 |
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From: |
Dave Tams, Group Manager, Corporate Excellence |
The purpose of this report is to present for confirmation the minutes of the Investment Subcommittee meeting held on 25 September 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 25 September 2018 be confirmed as a true and correct record.
Attachment 1: Investment Subcommittee
Minutes - 25 September 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: |
18 October 2018 |
Investment Subcommittee item: 4.1
24 October 2018
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TITLE: |
Performance of council's externally managed funds to September 2018 |
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ID: |
A1119746 |
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From: |
Simon Crabb, Finance Manager |
Executive Summary
A summary of the returns and target objectives for the month of September 2018 for each externally managed fund is presented below, with the supporting detail and fund performance for longer periods contained in Attachment 1.
Although no fund exceeded their September monthly objective, all the Funds outperformed their objectives for the quarter to 30 September 2018.
That the report ‘Performance of council's externally managed funds to September 2018’ by Simon Crabb, Finance Manager and dated 18 October 2018, be received.
Background
Community Investment Fund (CIF)
At 30 September 2018, the CIF had a market value of $14.5M and had performed as follows:
Property Reinvestment Fund (PRF)
At 30 September 2018, the PRF had a market value of $16.9M and performed as follows:
Infrastructure Investment Fund (IIF)
At 30 September 2018, the IIF had a market value of $18.7M and performed as follows:
Short Term Investment Fund (STF)
At 30 September 2018, the STF had a market value of $7.7M and performed as follows:
Attachment 1: NRC Externally Investment
Managed Funds - Quarterly Report to 30 September 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: |
18 October 2018 |
Investment Subcommittee ITEM: 5.0
24 October 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 |
Confirmation of Minutes |
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). |
3. That the Independent Financial Advisor be permitted to stay during business with the public excluded.
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.
