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Investment Subcommittee Tuesday 26 February 2019 at 8.30am
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Investment Subcommittee Tuesday 26 February 2019 at 8.30am
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Investment Subcommittee
26 February 2019
Investment Subcommittee Agenda
Meeting to be held in the Whale Bay Room
36 Water Street, Whangārei
on Tuesday 26 February 2019, 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)
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Cr Bill Shepherd |
Cr Penny Smart |
Mr Geoff Copstick |
Item Page
1.0 apologies
2.0 declarations of conflicts of interest
3.1 Confirmation of Minutes 3
4.1 Performance of council's externally managed funds to 31 January 2019 7
Simon Crabb – Finance Manager
Investment Subcommittee item: 3.1
26 February 2019
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TITLE: |
Confirmation of Minutes |
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ID: |
A1154435 |
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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 28 November 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 28 November 2018 be confirmed as a true and correct record.
Attachment 1:
Investment Subcommittee Minutes - 28 November 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 January 2019 |
Investment Subcommittee item: 4.1
26 February 2019
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TITLE: |
Performance of council's externally managed funds to 31 January 2019 |
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ID: |
A1166166 |
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From: |
Simon Crabb, Finance Manager |
Executive Summary / Whakarāpopototanga
A summary of the returns and target objectives for the month of January 2019 for each externally managed fund is presented below, with the supporting detail and fund performance for longer periods contained in Attachment 1.
In the month of January 2019, all of council funds outperformed their respective objective and collectively made gains of $917k (based upon the preliminary report received from EriksensGlobal). Taking these January gains into account, there is now an overall capital loss reported of $227K for the seven months to 31 January 2019.
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Month to 31 January 2019 |
CIF |
PRF |
IIF |
STF |
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Fund Return % |
1.7% |
1.6% |
1.8% |
1.3% |
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Fund Objective |
0.5% |
0.6% |
0.5% |
0.3% |
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Fund Over / Under Performance |
1.2% |
1.0% |
1.3% |
1.0% |
That the report ‘Performance of council's externally managed funds to 31 January 2019’ by Simon Crabb, Finance Manager and dated 21 February 2019, be received.
Background / Tuhinga
Community Investment Fund (CIF)
At 31 January 2019, the CIF had a market value of $14.1M and had performed as follows:
Property Reinvestment Fund (PRF)
At 31 January 2019, the PRF had a market value of $16.6M and performed as follows:
Infrastructure Investment Fund (IIF)
At 31 January 2019, the IIF had a market value of $19.4M and performed as follows:
Short Term Investment Fund (STF)
At 31 January 2019, the STF had a market value of $5.5M and performed as follows:
Attachments/Ngā tapirihanga
Attachment 1: NRC
Externally Mananged Funds Monthly Report to 31 January 2019 - Preliminary ⇩ 
Authorised by Group Manager
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Name: |
Simon Crabb |
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Title: |
Finance Manager |
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Date: |
21 February 2019 |
