Nambucca Shire councillors heard from financial advisers, Imperium Markets, that their investments have been performing well over the last few years.
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At their meeting last Thursday account manager Michael Chandra said investments were “safe and secure” and had been “prudent and long term, which means they have been locked in at higher interest rates”.
“And as far as term deposits are concerned, out of 60 councils, Nambucca Shire rates 15th for their term deposit performance, which is good for a council of your size,” Mr Chandra said.
“Council’s finance staff are diligent. There is a cash flow of 10 to 15 per cent on hand plus a range of FRNs (floating rate notes), which can be liquidated in two business days. We consider the council is well future-proofed if any untoward markets fluctuations might occur.”
He said current predictions were for an interest rate rise in early 2020.