Meeting documents

Investments and Contracts Committee – the charity funds are now administered by the private registered charity, Y Gymdeithas, and the County Council is no longer the trustee
Tuesday, 14th September, 2004

INVESTMENT AND CONTRACTS COMMITTEE

 

Minutes of the meeting held on 14 September, 2004.  

 

PRESENT:

 

Mr. G.W. Roberts O.B.E. - Chairperson

 

Messrs. E.G. Davies, A.M. Jones, Bob Parry O.B.E.,

John Roberts, E. Schofield.

 

Mr. G.O. Parry O.B.E. - Chairperson of the Isle of Anglesey Charitable Trust

 

Mr. Hefin W. Thomas - Vice-Chairperson of the Isle of Anglesey Charitable Trust

 

H.S.B.C. - Asset Management

Ms. Jenine Langrish - Director,

Ms. Allison Bell

 

 

 

IN ATTENDANCE:

 

Secretary,

Treasurer,

Committee Services Manager.

 

 

 

APOLOGY:

 

Mr. H. Eifion Jones

 

 

 

 

 

ITEMS TAKEN IN PUBLIC

 

 

1

DECLARATION OF INTEREST

 

No declarations of interest were received from either member or officer in respect of any item on the agenda.

 

2

MINUTES

 

The minutes of the meeting held on 26 August, 2004 were confirmed.

 

3

INVESTMENT MANAGEMENT

 

Submitted - the H.S.B.C., Asset Management Quarterly Report for the period up to 30 June, 2004.  A presentation document was presented to the meeting.

 

The Asset Management representatives reported that the fund underperformed over the quarter and the twelve month period.  Stock selection was the main contributor to the underperformance this quarter.  For the year ending 30 June, 2004 the portfolio showed a return of 12.8% against a benchmark return of 14.2%.  However, the fund is ahead of the benchmark for the 5 year basis.    The market value of the fund on 7 September was £11,878,739.

 

RESOLVED to accept the contents of the report.

 

 

G.W. ROBERTS O.B.E.

CHAIRPERSON