Agenda item

The Committee considered a report of the Corporate Director of Resources (Interim) which provided information on the performance of the Pension Fund’s short-term investments as at 31 December 2020 (for copy see file of Minutes).

Councillor J Shuttleworth asked as regards the interest rate of 0.5 percent, noting it had been 0.75 percent previously.  The Finance Manager noted the rate was based upon the types of investments, as per the Treasury Management Strategy, and the ability to be able to access funds as required.

Councillor J Atkinson asked whether there was a risk-based limit in terms of which funds could be invested in.  The Finance Manager noted that the Treasury management Advisors regularly provided updated lists of the financial institutions in which we were able to invest, based upon the requisite credit rating. 

Resolved:

That the position at 31 December 2020 regarding the Pension Fund’s short-term investments where the Pension Fund’s surplus cash holding was £39.290 million and £2,605 net interest was earned in the three month period be noted.