Decision details

Mike Jensen, Lead Officer, presented the update report on the Treasury Management activity from August to November 2016.

Members were advised that this was a quiet period for the markets.

Members queried the cut in interest rates as discussed at the last meeting and it was reported that there was an expectation that there would potentially still be a further cut, perhaps towards the end of the year.  It was anticipated that the portfolio would remain to be well balanced.

A query was raised around property investment and it was confirmed there were none in the treasury mandate as the principle responsibility is to manage instant and immediate liquidity.  It was confirmed that a number of other councils have done so but members were advised that there remains a need to be cautious, in relation to the liquidity it could guarantee, but could be acceptable in another fund such as the Pension Fund.

Members were advised that the agreement with the Local Pension Partnership around the continuation of Treasury Management activity was currently with the respective lawyers to finalise the negotiated deal as originally envisaged.

Resolved: That the review of Treasury Management activities for the period August to November 2016 be noted.