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• 01

  Apologies

  

• 02

  Declarations by Members of Statutory Disclosable Pecuniary Interests, Compulsory Registerable Non-Pecuniary Interests and Voluntary Registerable Non-Pecuniary Interests in Matters on this Agenda

  

• 03

  Announcements (If Any)

  

• 04

  Deputations (If Any)

  

  Requests to speak at the Committee on a matter within its terms of reference must be made in writing to the Democratic Services Officer named on the front of this agenda by 5pm two working days before the meeting.

   

• 05

  Notification of Any Items of Business the Chair Decides to Take as Urgent

  

• 06

  Minutes

  

  To approve as a correct record the Minutes of the meeting held on 17th July 2025.

   

   

   

• 07

  Progress Update on Responsible Investment Actions and Conflict-Affected and High-Risk Area (CAHRA) Review

  

  Report of the Executive Director of Corporate Services.

   

  This report provides an update on progress against the five actions agreed by the Pension Committee in March 2025 in response to the petition on ethical investment. It outlines work undertaken to scope the independent fund review, enhance transparency on fund holdings, initiate CAHRA-related disclosures, review investment beliefs, and coordinate with investment managers.

• 08

  Performance Report

  

  Report of the Executive Director of Corporate Services.

   

  This report presents the performance of the Pension Fund investment portfolio and that of the individual investment managers for the quarter ended 30 June 2025.

• 09

  Active Global Equity (Value) Transition Proposal

  

  Report of the Executive Director of Corporate Services.

   

  This report presents recommendations following an investment review of the Fund’s active global equity manager, Harris Associates, and the proposed transition to the recently launched LCIV Global Value Fund, managed by Wellington Management. The recommendation is supported by analysis from the Fund’s investment consultant (Isio) and London CIV.

• 10

  Property Portfolio - Transition to LCIV Indirect Property Fund (CBRE)

  

  Report of the Executive Director Corporate Services.

   

  This report seeks Committee approval to transition the Fund’s existing UK property mandate currently managed directly by CBRE into the LCIV Indirect Real Estate Pooling Solution, which is also managed by CBRE Investment Management.

   

  The transition will maintain continuity of manager, mandate objectives, and investment style, while achieving full compliance with the pooling requirements under the Local Government Pension Scheme (Management and Investment of Funds) Regulations 2016.

• 11

  London Collective Investment Vehicle Progress Report

  

  Report of the Executive Director of Corporate Services.

   

  This report provides a quarterly update on developments at the London Collective Investment Vehicle (CIV) in creating sub-funds for the spectrum of asset classes, on-boarding of assets and development of the CIV’s staff resource. Progress with the London CIV contributes to the Government’s pooling agenda and drive to reduce costs in the Local Government Pension Scheme (LGPS).

   

• 12

  Engagement Report

  

  Report of the Executive Director of Corporate Services.

   

  This report brings Members up to date with engagement activity undertaken by the Fund and on its behalf by LAPFF (the Local Authority Pension Fund Forum) since the last Committee meeting.

   

  This work is important to the Fund’s ambition to be a fully engaged investor and demonstrates its commitment to Responsible Investment and engagement in Environmental, Social and Governance (ESG) issues as the Fund works to maximise returns on investment.

   

   

• 13

  Draft Pension Fund Annual Report 2024/25

  

  Report of the Executive Director of Corporate Services.

   

  The Pension Fund is required to produce an Annual Report under the Local Government Pension Scheme Regulations 2013. This report presents the 2024/25 Annual Report to the Pension Committee.

   

• 14

  Triennial Valuation - Initial Whole Fund Results

  

  Report of the Executive Director of Corporate Services.

   

  This report presents the initial whole fund results of the triennial valuation from the Pension Fund’s actuary (Hymans Robertson).

   

   

  This report has an appendix, which contains information exempt within the meaning of Schedule 12A to the Local Government Act 1972 and is not for publication. The appendix has, therefore, been circulated to Committee Members only.

   

  If the Committee wishes to discuss the contents of a closed exempt appendix it may pass the proposed resolution identified at the end of the agenda to exclude members of the public and the press from the proceedings for that discussion.

   

   

   

• 15

  Any Other Business that the Chair Considers Urgent

  

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• 

  Minutes of Previous Meeting

• 

  1. Action Points Paper (Oct 25 PC)

• 

  2. Performance Report QE Jun 2025 (PC Oct 25)

• 

  Performance Report Appendix A B - Apex - London Borough of Camden Report - Q2 2025 - Amended 251007 V2

• 

  3. Active Global Equity (Value) Transition Proposal

• 

  3.Appendix A - Isio Equity Portfolio Review and Recommendation

• 

  3.Appendix B - LCIV Active Value Allocation Review Summary

• 

  4. Transition to LCIV Indirect Property Fund (CBRE)

• 

  4.LCIV (report on) Indirect Real Estate Pooling Solution App A

• 

  5. CIV Progress Report QE June 2025 (Oct 25 PC)

• 

  6. Engagement Report QE June 2025 (Oct 25 PC)

• 

  6.Appendix A - LAPFF quarterly engagement report Q2 2025

• 

  6.Appendix B - Companies at which PIRC voted

• 

  7. Draft Pension Fund Annual Report 2024-25 Cover

• 

  7.Draft Pension Fund Annual Report 2024-25

• 

  8. Triennial Valuation - Initial Whole Fund Results

• 

  Triennial Evaluation Appendix A part 2 cover

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• 

  Vacant

• 

  Kathy Anifowose

• 

  Cllr. Kemi Atolagbe

• 

  Cllr. Anna Burrage

• 

  Billie Cooper

• 

  Cllr. Matt Cooper

• 

  Hamilton Daley

• 

  Cllr. Nina De Ayala Parker

• 

  George Ekontang

• 

  Cllr. Rebecca Filer

• 

  Cllr. Edmund Frondigoun

• 

  Errol Ghanie

• 

  Cllr. Heather Johnson

• 

  Cllr. Matthew Kirk

• 

  Cllr. Rishi Madlani

• 

  Andrew Maughan

• 

  Cllr. Jenny Mulholland

• 

  Priya Nair

• 

  Sola Odusina

• 

  Daniel Omisore

• 

  Saul Omuco

• 

  Joanne Reeves

• 

  Carlito Rendora

• 

  Jon Rowney

• 

  Vinothan Sangarapillai

• 

  Democratic Services

• 

  Cllr. Tom Simon

• 

  Cllr. James Slater

• 

  Peter Taylor

• 

  Vicky Wemyss-Cooke

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