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States of Jersey Investment Strategy: Amendment

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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  • 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While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.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 30 November 2017:

Decision Reference:  MD-TR-2017-0142

Decision Summary Title:

Amendment to the States of Jersey Investment Strategy

Date of Decision Summary:

23rd November 2017

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 States of Jersey Investment Strategy

Date of Written Report:

23rd November 2017

Written Report Author:

Head of Treasury and Investment Management

Written Report :

Public or Exempt?

Public

Subject:

The amendment of the States of Jersey Investment Strategies and presentation to the States.

Decision(s):

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

 

In accordance with 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 Treasury Advisory Panel monitor the investments of the States of Jersey on an ongoing basis and perform a full review of the Strategy Document at least annually. The updated Investment Strategies were reviewed by the Investment Advisor and the Treasury Advisory Panel who have recommended their adoption.

 

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 Operations Team.

 


Action required:

The Head of Decision Support to advise the Head of Treasury and Investment Management when the decision has been signed. The Greffier of the States is requested to arrange for the attached to be presented to the States. The Treasury and Investment Management Team will ensure changes are implemented.

Signature:

 

 

Position: Senator AJH Maclean, Minister for Treasury and Resources

Date Signed:

 

Date of Decision:

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