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States of Jersey: Investment Strategies: Amendment

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A decision made 20 October 2015:

Decision Reference:  MD-TR-2015-0112

Decision Summary Title:

Amendment to the States of Jersey Investment Strategies Document

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:

Amendment to the States of Jersey Investment Strategies Document

Date of Written Report:

20th October 2015

Written Report Author:

Head of Investment Management and Charitable Funds

Written Report :

Public or Exempt?

Public

Subject:

Amendment to the States of Jersey Investment Strategies and presentation to the States.

Decision(s):

The Minister approved the amended ‘States of Jersey Investment Strategies’ document and decided to present the updated document to the States.

 

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. The Minister has agreed to amend the investment strategy of the Fund.  The strategy is being amended to the asset allocation below.

 

Asset class

Current

allocation (%)

Proposed

allocation (%)

Proposed

range (%)

Equities

70

50

40 – 60

Bonds / Cash

10

10

5 – 15

Property

20

20

0 – 22

Alternatives

0

20

10 – 25

 

The updated JTSF investment strategy has been included in the States of Jersey Investment Strategies document.

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’. These investment strategies include a strategic asset allocation detailing the allotment of monies across investment classes.

 

Paragraph 4 of the same Regulations, states that 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.

 

 

Resource Implications:

There are no financial or manpower implications.

Action required:

The Greffier of the States is requested to present the attached report to the States. The Treasury and Investment Management Team will ensure changes are implemented.

Signature:

 

 

 

Position: Senator A J H Maclean,

Minister for Treasury and Resources

 

Date Signed:

 

Date of Decision:

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