Issue - meetings

That the update be noted.

Kieran Harkin, Fund Investment Consultant – JLT Group, presented a report to provide an economic and market update for the period ending 31 March 2016.   He advised that the economic and market environment during the quarter had been split into two halves, with a poor start followed by a reversal towards the end of the quarter.  He referred to the following key contributors which had been the main drivers:

·         rebound in oil price

·         diminishing fear of a US recession

·         encouraging comments from China

Mr. Harkin explained that over the quarter positive returns were seen across all Growth assets with the exception of UK and Japanese equities.  He commented on the market background and economic statistics as detailed in the report.

RESOLVED:

That the update be noted.