Agenda item

Consideration was given to graphs showing recent movements in the Stock and Share Indices (for copy see file of Minutes).

Philip Williams advised that the charts showed that the markets had been stable. Equity markets had performed well over the year but had quietened in recent months. Performance of emerging markets had been poor in the second half of the year and the Durham Fund’s transfer of assets to new global mandates was timely.

Resolved:

That the information given be noted.