Alternative Investments for Local Authority Treasurers: January 17th, 2013

Sponsored: Driving regional growth through the government hub programme: by Tom Roberts, head of strategic investment, LGIM Real Assets The government estate is made up of hundreds of thousands of UK assets; from railways ports and prisons to… dlvr.it/RG0FPy pic.twitter.com/IoLXZ0xktB

Market makers to step in to PWLB financing vacuum: Private sector and institutional lenders have been quick to react after the Treasury this week priced itself out of the long-term local government lending market. A new era for local[...] dlvr.it/RFwHGp pic.twitter.com/tr2KiGdUWt

Councils plead for discount PWLB rate to save housing and regen schemes: The District Councils Network has asked the Treasury to create a new Public Works Loan Board discount rate, as councils reassess the viability of their regeneration and housing… dlvr.it/RFwHFF pic.twitter.com/EHZcsCkgZw

PWLB bombshell: ‘Best day for a long time’ for bonds agency: This week’s Public Works Loan Board (PWLB) rate rise has boosted hopes that the UK Municipal Bonds Agency (UKMBA) can finally issue its first bond, as the organisation announced the[...] dlvr.it/RFwH6k pic.twitter.com/8ZXBLVHDnU

Lack of transparency ‘contributed to £11.7m school overspend’: Optimism bias and a culture of limited transparency led to an £11.7m overspend on a new academy school in Northamptonshire, according to an internal investigation. A report presented to… dlvr.it/RFrFkW pic.twitter.com/RspiDcguv9

PWLB rate hike sends shockwaves through council finance sector: Whitehall today threw a hand grenade into local authority borrowing plans by announcing a whole percentage point increase in the rate of borrowing from the Public Works Loan Board (PWLB).[...] dlvr.it/RFqbgN pic.twitter.com/nIhYZLUHCN

Council set to purchase residential block to house staff: A London council is set to approve a loan of £110.5m to one of its wholly-owned companies to purchase a residential block to provide investment income and house its staff[...] dlvr.it/RFmLBx pic.twitter.com/64NX9rtlRX

Government proposes to continue compensating councils with negative RSG: The government is proposing to compensate councils with negative revenue support grant (RSG) in 2020/21, it has announced in a consultation on the distribution of next year’s local… dlvr.it/RFhSS9 pic.twitter.com/iW5po29CvR

Devolution white paper announcement accompanied by hint on unitary push: Local areas could get more powers and cash from central government – but face government pressure to adopt unitary models, following this week’s Conservative Party conference.… dlvr.it/RFRDQ4 pic.twitter.com/kkBXRHw5Xl

Treasurers cautioned over maturing bonds: The boost from fixed interest funds is likely to decline over coming years, investment manager CCLA has predicted. The analysis followed Room 151’s Treasury Investment Survey which revealed that 5% of local… dlvr.it/RFRDNZ

Nottingham introduces special measures to head off £9m overspend: Nottingham City Council is implementing a range of in-year spending controls including a hiring freeze and a halt to non-essential spending to deal with a projected £9m overspend. The… dlvr.it/RFPyyC pic.twitter.com/lQWl54GNok

New FCA rules ‘could lead to more property fund suspensions’: Proposals by the Financial Conduct Authority (FCA) aimed at preventing a repeat of the Woodford crisis could lead multi-asset funds or funds of funds to move away from illiquid assets,[...] dlvr.it/RFMGd0

Rise in council spending on land and buildings slows: The recent boom in council spending on land and buildings slowed last year, indicating that the craze for borrowing to invest in commercial property may be reaching its peak. The[...] dlvr.it/RFMGbx pic.twitter.com/sFBtRwOFWC

Just over four weeks to go until the 2nd Housing & Regeneration Finance Summit socialhousing.co.uk/regeneration-s… #housing #regeneration #finance

CCLA urges review of maturing high-yield bond holdings: Local authorities with exposure to bonds have been urged to review their holdings. Delegates at Room151’s Treasurers Investment Forum were advised that the changes driven by quantitative easing and… dlvr.it/RDy3Qg pic.twitter.com/bkFr3rlK5N