Environment Waikato is reviewing its financial policies as part of the 2009-19 Long Term Council Community Plan (LTCCP) process. This review includes the investment advisory services the council currently receives and the management of its $51 million investment fund.
Chief financial officer Mike Garrett said the review had particularly focused on how the council might amend its treasury policy to buffer the investment fund against the ongoing global economic turmoil that has caused share prices to fall.
While independent reviewers have found the council’s strategic asset allocation (the split between investment types) is largely sound, they have suggested options to improve the certainty of investment returns.
Mr Garrett said decisions about future asset allocation would be made after the council had reviewed its investment fund advisor and other providers in the market.
The council is currently preparing the timetable and process for the request for proposal and aims to have the review completed and implemented by June.
For more information on the investment fund and other LTCCP proposals visitwww.ew.govt.nz.