The Treasury Department oversees more than £2.7 billion of public funds including the States Strategic Reserve, the Stabilisation Fund, the Consolidated Fund, the Social Security Fund, the Public Employees Contributory Retirement Scheme, the Jersey Teachers’ Superannuation Fund, currency notes and coins funds, and around 250 trust, bequest and confiscation funds.
The stock market has recently begun to show signs of recovery from the severe downturn of the past year or so, with share prices rallying.
States Treasurer Ian Black said that before 2006 there had been no investment strategy for the Strategic Reserve but that over the past three years advisers had been allocating up to 30% of the fund in equities.
That allocation has now been increased to 50%, with around ten per cent in property and 40% in bonds and cash.
He said the changes had been made to increase the longer term value of the fund, on the basis that is was a permanent reserve which the Island should draw on only in exceptional circumstances.
• See Tuesday’s JEP for full story and more business news.