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Investment Strategies of States of Jersey: Amendment

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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.

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A decision made 7 August 2012:

Decision Reference:  MD-TR-2012-0070

Decision Summary Title:

Amendment to the States of Jersey Investment Strategy Document

Date of Decision Summary:

06 August 2012

Decision Summary Author:

Head of Treasury and Investment Management

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 SOJ Investment Strategy Document

Date of Written Report:

06 August 2012

Written Report Author:

Finance & Investment Manager

Written Report :

Public or Exempt?

Exempt 3.2.1 a (x)

Subject:

Amendment to States of Jersey Investment Strategies.

Decision(s):

The Assistant Minister approved the removal of the operational elements from the States of Jersey Investment Strategies and that the updated Investment Strategies be presented to the States.

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 specific investment limitations and conditions which are used to manage the Pools. The ‘States of Jersey Investment Strategies’ is attached to this report.

 

The Minister will therefore lodge the updated ‘States of Jersey Investment Strategies’ for presentation to the States.

Resource Implications:

There are no additional resource implications from this decision. The changes to strategy will be administered as part of the ongoing responsibilities within the Treasury Management Team.

Action required:

Treasury and Investment Management Team to ensure changes to the Investment Strategy Document are made and maintained.


To request the Greffier of the States to present the updated ‘States of Jersey Investment Strategies’ to the States Assembly at the earliest opportunity.

Signature:

 

 

Position: Deputy E J Noel, Assistant Minister for Treasury and Resources

Date Signed:

 

Date of Decision:

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