Agenda item

Consideration was given to graphs showing movements of the major currencies against sterling (for copy see file of Minutes).

Philip Williams advised that bonds were very strong as was sterling.  He advised that bonds had performed well since the end of June quarter.

In response to a question from Councillor Carr about the pound/ euro/ dollar current market, the Pension Fund Advisers advised that assets were affected by currency but were very well protected.

Resolved:

That the information given be noted.