Skip to main content Skip to accessibility
This website is not compatible with your web browser. You should install a newer browser. If you live in Jersey and need help upgrading call the States of Jersey web team on 440099.
Government of Jerseygov.je

Information and public services for the Island of Jersey

L'înformâtion et les sèrvices publyis pouor I'Île dé Jèrri

Jersey Teachers' Superannuation Fund: Investment Strategy

A formal published “Ministerial Decision” is required as a record of the decision of a Minister (or an Assistant Minister where they have delegated authority) as they exercise their responsibilities and powers.

Ministers are elected by the States Assembly and have legal responsibilities and powers as “corporation sole” under the States of Jersey Law 2005 by virtue of their office and in their areas of responsibility, including entering into agreements, and under any legislation conferring on them powers.

An accurate record of “Ministerial Decisions” is vital to effective governance, including:

  • demonstrating that good governance, and clear lines of accountability and authority, are in place around decisions-making – including the reasons and basis on which a decision is made, and the action required to implement a decision

  • providing a record of decisions and actions that will be available for examination by States Members, and Panels and Committees of the States Assembly; the public, organisations, and the media; and as a historical record and point of reference for the conduct of public affairs

Ministers are individually accountable to the States Assembly, including for the actions of the departments and agencies which discharge their responsibilities.

The Freedom of Information Law (Jersey) Law 2011 is used as a guide when determining what information is be published. While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.

A decision made 20 October 2015:

Decision Reference:  MD-TR-2015-0113

Decision Summary Title:

JTSF Investment Strategy

Date of Decision Summary:

20th October 2015

Decision Summary Author:

Head of Investment Management and Charitable Funds

Decision Summary:

Public or Exempt?

Public

Type of Report:

Oral or Written?

Written

Person Giving

Oral Report:

N/A

Written Report

Title:

JTSF Investment Strategy

Date of Written Report:

20th October 2015

Written Report Author:

Head of Investment Management and Charitable Funds

Written Report :

Public or Exempt?

Public

Subject:

Alter the Jersey Teachers’ Superannuation Fund’s (the Fund’s) investment strategy to decrease the reliance on equities and invest in alternatives.

Decision(s):

The Minister decided to increase the Fund’s alternative asset allocation from 0% to 20% and reduce the amount allocated to equities from 70% to 50%.

Reason(s) for decision:  

Under the Teachers’ Superannuation (Administration) (Jersey) Order 2007, Article 8, (paragraph 4), the Management Board with the agreement of the Minister for Treasury and Resources shall agree with each investment manager an investment strategy.  This paragraph has been interpreted that the Minister is required to approve the investment strategy of the Fund.  Accordingly the Management Board has asked the Minister to consent to adjust the investment strategy.

The Management Board decisions are based on advice from AON Hewitt, JTSF Investment Advisor.

Resource Implications:

There are no staffing or financial implications. The above decision will be actioned by the existing staff in Treasury Operations and include asset transfers within existing pools.

Action required:

The Head of Investment Management and Charitable Funds to send a copy of the decision to the JTSF Management Board as evidence of this decision.

Signature:

 

 

 

Position: Senator A J H Maclean,

Minister for Treasury and Resources

 

 

Date Signed:

 

Date of Decision:

Back to top
rating button