In today’s Finance and Performance Committee meeting, Councillors voted down a motion to request advice on “Developing the business case for Active Portfolio Management” by Christchurch City Holdings Limited (CCHL).

Active Portfolio Management was recommended by the CCHL Board. The meeting agenda identified a key feature of Active Portfolio Management as giving CCHL “a mandate for greater investment flexibility”.

Councillors then passed a motion requesting advice on ceasing further development of the business case for Active Portfolio Management.

Voting record: requesting advice on developing the business case for Active Portfolio Management:

For:                          Mayor Mauger, Councillor Barber, Councillor Gough, Councillor Henstock, Councillor Keown, Councillor Peters and Councillor Scandrett

Against:                 Councillor Coker, Deputy Mayor Cotter, Councillor Donovan, Councillor Fields, Councillor Harrison-Hunt, Councillor Johanson, Councillor McLellan and Councillor Moore

Voting record: requesting advice on ceasing further development of the business case for Active Portfolio Management:

For:                          Councillor Coker, Deputy Mayor Cotter, Councillor Donovan, Councillor Fields, Councillor Harrison-Hunt, Councillor Johanson, Councillor McLellan, Councillor Moore and Councillor Scandrett

Against:                 Mayor Mauger, Councillor Barber, Councillor Gough, Councillor Henstock, Councillor Keown and Councillor Peters

Link to meeting minutes:
https://christchurch.infocouncil.biz/Open/2023/12/FPCO_20231213_MIN_8472_AT_WEB.htm

Coverage of the issue in The Star:
https://www.odt.co.nz/star-news/star-christchurch/tight-vote-christchurch-assets-debate