The Board continued with consideration of the cash position.
Key points raised during the discussion:
1. The Chairman highlighted that Tim Evans, who had sent apologies for the meeting, had previously urged any surplus cash to be invested to help balance our asset allocation benchmarks.
2. The Board went through the options available for investment of cash.
Actions/Further information to be provided:
None.
Resolved:
That £30m cash be invested in GARS/GFS according to the Fund’s mandate ie in the ratio of 70:30 GARS and GFS respectively.
Next steps:
None.