Attendance by Fund Manager
Attendance by Fund Managers for a presentation and questions from Trustees, the Advisor to Trustees and the Chief Financial Officer.
7:15pm - Capital
Minutes:
The Committee received a presentation from the Fund Manager Capital, as follows:
CAPITAL
Fund performance for the equity mandate was 0.14% above the benchmark and 0.36% below the target in the previous quarter, and 1.6% below the benchmark and 3.6% below the target in annualised terms in the 33 month period to the end of December 2009.
Fund performance for the fixed income mandate was 0.43% above the benchmark and 0.18% above the target in the previous quarter, and 0.75% below the benchmark and 1.75% below the target in annualised terms in the 33 month period to the end of December 2009.
Capital explained the reasons for current performance and answered questions from Trustees. In response to a question from the Committee regarding the fees charged by Capital, it was agreed that this information would be provided to officers for circulation to all members of the Committee.
RESOLVED
That the presentation and answers to questions given by Capital be noted.