Agenda item

Consideration was given to the report of the Corporate Director, Resources which gave details of the performance of the Pension Fund’s short term investments for the three month period ended 30 September 2014 (for copy see file of Minutes).

Don McLure, Corporate Director, Resources referred Members to a new deposit placed with the financial institution Handelsbanken. This was a highly respected institution used by a number of local authorities.

In response to a question from Councillor Carr about fixed term deposits with UK Local Authorities, Don McLure assured the Member that deposits would only be made following due diligence checks on their accounts.

Resolved:

That the information given be noted.