Agenda Item No
The Vale of Glamorgan Council
Welsh Church Act Estate Committee: 30 January 2012
Report of the Director of Finance ICT and Property
Fund's investments - EEA Life Settlements Fund PCC Ltd
Purpose of the Report
1. To apprise committee of the situation regarding its investment in EEA Life Settlements Fund PCC Ltd.
1. That committee considers the comments of its investment advisor, Bluefin.
Reasons for the Recommendations
To inform committee of the suspension of dealings in EEA Life Settlements Fund PCC Ltd.
2. Bluefin, the trusts investment advisor, has written to advise of the suspension of dealings in EEA Life Settlements Fund PCC Ltd.
Relevant Issues and Options
3. Bluefin's letters of 1 & 8 December 2011, together with other correspondence, are reproduced at Appendix A to this report.
4. Whilst dealings in the fund have been suspended, Bluefin have confirmed that during the period of suspension which may be up to 23 months, the trust should continue to receive income from its investment.
Resource Implications (Financial and Employment)
5. A reduction in overall income would affect the trust's ability to maintain its level of grant giving.
Legal Implications (to Include Human Rights Implications)
6. There are no direct legal implications arising from this report.
Crime and Disorder Implications
7. There are no direct crime and disorder implications arising from this report.
Equal Opportunities Implications (to include Welsh Language issues)
8. There are no direct equal opportunities implications arising from this report.
9. The sole concern of the committee is to act in the best interest of the Trust
Policy Framework and Budget
10. Not applicable
Consultation (including Ward Member Consultation)
11. Not applicable
Relevant Scrutiny Committee
All as reproduced at Appendix "A" to this report.
Mr AD Williams
Directorate of Finance, ICT and Property
Tel: 01446 709250
Director of Finance, ICT & Property