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Investment Strategies - Revised: Presentation to the States

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.

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A decision made 31 October 2011:

Decision Reference:  MD-TR-2011-0132

Decision Summary Title:

Presentation of Revised States Investment Strategies

Date of Decision Summary:

28 October 2011

Decision Summary Author:

Treasurer of the States

Decision Summary:

Public or Exempt?

Public

Type of Report:

Oral or Written?

Written

Person Giving

Oral Report:

N/A

Written Report

Title:

Presentation of Revised States Investment Strategies

Date of Written Report:

28 October 2011

Written Report Author:

Head of Investment Management

Written Report :

Public or Exempt?

Public

Subject:  Presentation of revised Investment Strategies to the States by the Minister for Treasury & Resources.

Decision(s):  The Minister for Treasury and Resources decided to amend the Investment Strategies for the various States Funds as in Appendix A.

Reason(s) for decision:  The Minister’s Investments Sub-Committee and professional advisers have recommended some changes to the existing Investment Strategies.

 

The Treasury and Resources Minister has consulted with the Minister for Social Security concerning the Investment Strategies for the Social Security (Reserve) Fund and the Health Insurance Fund.

 

Article 4(1) of the Public Finances (Transitional Provisions) (No. 2) (Jersey) Regulations 2005 states:

“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.”

 

Article 4(2) of the Public Finances (Transitional Provisions) (No. 2) (Jersey) Regulations 2005 states:

“The Minister and the Treasurer may invest money to which this Chapter applies –

(a) to the extent and in the manner set out in the investment strategy presented to the States; but

(b) where that strategy has been reviewed, to the extent and in the manner set out in the last review of the strategy presented to the States.”

Resource Implications:  Other than those detailed in the report there are no further financial or manpower Implications.

Action required:  The Greffier of the States is requested to present the attached Investment Strategies to the States at the earliest opportunity.

Signature:

 

 

 

Position: Senator P F C Ozouf, Minister for Treasury and Resources

 

Date Signed:

 

Date of Decision:

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