Decision

Resolved –

1. 1.          That the fund account and net asset forecast for 2025/26 of £23.50 billion be noted.
2. That the latest WYPF net management expense forecast of£28.96m, overspend of £1.51m be noted, due primarily tohigher-than-expected investment transaction costs and thecost of setting up the Northern LGPS FCA entity.

To be actioned by: The Managing Director, WYPF