Term Deposits with Banks and Building Societies which meet In- house and Purple 15% 2 years the Specified Investments Fund Manager criteria Term Deposits with Banks and Building Societies which fall in In- house and Green 15% 100 days the Non- Specified Fund Manager Investments criteria Term Deposits with Local In- house and - 10% 2 years Authorities Fund Manager UK Sovereign In- house and Gilts 25% 10 years rating Fund Manager Short-term F1, Bonds issued by multilateral In- house and Long-term AA, 15% 5 years development banks Fund Manager Viability BB+ Money Market Funds (MMF) operating on Constant Net Short-term F1, Asset Value (CNAV) basis if In- house and Long-term AA+, 20% - not credit rated up to value of Fund Manager – Viability BB 10% of total investment portfolio per MMF Enhanced Money Market F1, Funds - up to value of 10% of In- and Fund Long-term AA+, 40% - total investment portfolio per Manager Viability BB MMF Pooled such those Short-term F1, investing in sovereign bonds, In- house and Long-term AA-, 15% 2 years corporate bonds, property Fund Manager Viability BB+ funds, equity funds Investment in Share Capital of a wholly owned and /or Not applicable In- house Not applicable Not applicable subsidiary company of the Council Investments with other Not applicable In house Not applicable Not applicable organisations** ** Investments with other organisations have been included as a non-specified investment category for 2017/18. This would include investment opportunities with small and medium sized enterprises (SMEs) and other businesses and entities across the UK. Because of the higher perceived credit risk of SMEs, such investments may provide considerably higher rates of return. An external credit assessment will be undertaken and advice from Capita will be sought (where available) before any investment decision is made. Delegated authority is granted to the Finance Officer, in consultation with the Lead Member for Financial Management and the Chairman of Accounts, Audit and Risk Committee, to amend the lending criteria and counterparty limits detailed above as
Term Deposits with Banks and Building Societies which meet the Specified Investments criteria Purple In- house and Fund Manager 15% 2 years Term Deposits with Banks and Building Societies which fall in the Non- Specified Investments criteria Green In- house and Fund Manager 15% 100 days Term Deposits with Local Authorities - In- house and Fund Manager 10% 2 years Gilts UK Sovereign rating In- house and Fund Manager 25% 10 years Bonds issued by multilateral development banks Short-term F1, Long-term AA, Viability BB+ In- house and Fund Manager 15% 5 years Money Market Funds (MMF) operating on Constant Net Asset Value (CNAV) basis if not credit rated – up to value of 10% of total investment portfolio per MMF Short-term F1, Long-term AA+, Viability BB In- house and Fund Manager 20% - Enhanced Money Market Funds - up to value of 10% of total investment portfolio per MMF F1, Long-term AA+, Viability BB In- and Fund Manager 40% - Pooled such those investing in sovereign bonds, corporate bonds, property funds, equity funds Short-term F1, Long-term AA-, Viability BB+ In- house and Fund Manager 15% 2 years Investment in Share Capital of a wholly owned and /or subsidiary company of the Council Not applicable In- house Not applicable Not applicable Investments with other organisations** Not applicable In house Not applicable Not applicable ** Investments with other organisations have been included as a non-specified investment category for 2017/18. This would include investment opportunities with small and medium sized enterprises (SMEs) and other businesses and entities across the UK. Because of the higher perceived credit risk of SMEs, such investments may provide considerably higher rates of return. An external credit assessment will be undertaken and advice from Capita will be sought (where available) before any investment decision is made. Delegated authority is granted to the Finance Officer, in consultation with the Lead Member for Financial Management and the Chairman of Accounts, Audit and Risk Committee, to amend the lending criteria and counterparty limits detailed above as
Cherwell2017TMS.docx