Investment Strategies of the States of Jersey: Amendment

Information about the publication of Ministerial Decisions

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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
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A decision made 24 September 2012:

Decision Reference: MD-TR-2012-0076
Decision Summary Title:	Amendment to the States of Jersey Investment Strategies		Date of Decision Summary:	13 September 2012
Decision Summary Author:	Head of Investment Management & Charitable Funds		Decision Summary: Public or Exempt?	Public
Type of Report: Oral or Written?	Written		Person Giving Oral Report:	N/a
Written Report Title:	Amendment to the States of Jersey Investment Strategies		Date of Written Report:	13 September 2012
Written Report Author:	Head of Investment Management & Charitable Funds		Written Report : Public or Exempt?	Public
Subject: Amendment to the States of Jersey Investment Strategies.
Decision(s): Further to the decision on 6 August 2012 (decision reference MD-TR-2012-0070) the Minister decided to publish the ‘States of Jersey Investment Strategies’ to the States at the earliest opportunity.
Reason(s) for decision:. In compliance with Paragraph 3 of the Public Finances (Transitional Provisions) (No. 2) (Jersey) Regulations 2005, detailed investment strategies are maintained within the ‘States of Jersey Investment Strategies’ for all monies to which Chapter 1 of that regulation applies. These Investment strategies include a strategic asset allocation detailing the allotment of monies across investment classes. The Common Investment Fund (“CIF”) allows Funds to access to the various investment classes through investment ‘Pools’ in order to meet their respective strategies. The States of Jersey Investment Strategies also contain a strategy for each Pool. In accordance with the Paragraph 4 of the same regulation, as soon as practical after the Minister has prepared the investment strategy, or any review of it, the Minister must present it to the States. The ‘States of Jersey Investment Strategies’ has been amended to outline the ‘strategic investment approach’ adopted by each respective Pool removing the operational aspects which are used to manage the Pools. The updated strategy also includes additional investment strategies for investment classes which are anticipated to be included within the CIF before the year end. The ‘States of Jersey Investment Strategies’ is attached to this report. The Minister has therefore decided to publish the ‘States of Jersey Investment Strategies’ lodged for presentation to the States.
Resource Implications: There are no additional resource implications from this decision. The changes to the strategy will be administered as part of the ongoing responsibilities within the Treasury and Investment Management Team.
Action required: Greffier of the States is requested to present the attached report to the States at the earliest opportunity.
Signature:		Position: Senator P F C Ozouf, Minister for Treasury and Resources
Date Signed:		Date of Decision: