The Pension Investment Sub-Committee of Worcestershire Council met on Thursday 18 June 2026 to review investment performance and consider strategic asset allocation. The meeting also included discussions on specific fund performance and proposed governance frameworks.

Pensions Investment Performance Update

The sub-committee was scheduled to receive an update on the investment performance of the Worcestershire Pension Fund. This item, detailed in the Public reports pack 18th-Jun-2026 09.30 Pension Investment Sub-Committee, covered a period of 68 pages and was likely to provide a comprehensive overview of how the fund's investments had performed.

Strategic Asset Allocation Review 2025

A significant portion of the meeting was dedicated to a review of the strategic asset allocation for 2025. This review, spanning 79 pages of the report pack, would have examined the long-term strategy for how the pension fund's assets are divided among different investment classes. Strategic asset allocation is a key component in managing risk and return for pension funds.

Nomura Far East Developed Equities and Emerging Markets Active Manager Performance Review

The performance of the Worcestershire Pension Fund's investments with Nomura, specifically in Far East Developed Equities and Emerging Markets Active Manager funds, was scheduled for review. This item, detailed across 35 pages of the report pack, would have focused on the performance of these particular investment mandates.

LGPS Central (LGPSC) Global Sustainable Active Equities and All World Equity Climate Multi Factor Fund Performance Update

The sub-committee was also set to receive an update on the performance of funds managed by LGPS Central (LGPSC). This included their Global Sustainable Active Equities and All World Equity Climate Multi Factor funds. This update, covering 17 pages of the report pack, would have provided information on these specific investment strategies.

Proposed Equity Protection Governance Framework Presentation: LGPS Central

A presentation was scheduled regarding a proposed Equity Protection Governance Framework from LGPS Central. This item, detailed in the Appendices to Agenda item 10 and 11 - Exempt 18th-Jun-2026 09.30 Pension Investment Sub-Committee, would have likely outlined new or revised governance structures related to equity investments.

Novum Investment Management Shaped Equity Update

An update on the Shaped Equity investments managed by Novum Investment Management was also on the agenda. This item, covered in a 2-page document within the report pack, would have provided specific information on this particular investment.

The meeting was attended by Councillor Linda Robinson (Chair of Pensions Committee and Pension Investment Sub-Committee), Councillor Louis Stephen (Vice-Chair of Pensions Committee and Pension Investment Sub-Committee), Councillor Peter Stoddart (voting co-opted member from Herefordshire Council), and David Stevens (non-voting Employee Representative). Simon Lewis, Committee Officer, was also present. The agenda was produced and published by Hazel Best, Assistant Director for Legal and Governance.