Lake Macquarie City Council's investment portfolio has returned above benchmarks over the past 12 months.
Councillors approved a recommendation to receive and note an investment report outlining Council's investments year to date under section 625 of the Local Government Act 1993 at tonight's ordinary meeting.
The report noted Council has a well-diversified portfolio invested predominantly among a range of term deposits and senior ranked floating rate notes from highly rated Australian banks.
Council also has more than a quarter of its portfolio invested in professionally managed funds, via NSW TCorp, which provide exposure to a wide range of asset classes, including international and domestic shares.
For the past twelve months, the rolling average portfolio return has been above benchmark, despite recent short-term downturns amid concerns about war in the Middle East.
Council expects savvy medium to longer-term investments will achieve above benchmark returns over the longer period.
Council's current investment returns are factored into both the current Operational Plan and the Long-Term Financial Plan and provide funding for Council's services to the community.
The full agenda and reports are available at meeting agendas and minutes.
The stream of tonight's meeting will be available online at lakemac.com.au within 48 hours.
