The Pensions Panel of Staffordshire Council met on Tuesday 1 September 2026 to review the performance of the Pension Fund and its investments. Discussions were scheduled to cover the fund's financial performance, responsible investment strategies, and membership in the Local Authority Pension Fund Forum (LAPFF).

Pension Fund Performance and Portfolio of Investments

The panel was scheduled to receive a report detailing the performance of the Staffordshire Pension Fund as at 30 June 2026. This report included a summary of the fund's performance for the quarter ending 30 June 2026, which indicated a return of 6.80%, matching its strategic benchmark. The report also provided an overview of the market background, noting global equity and bond markets had risen during the quarter, though volatility remained elevated due to geopolitical factors and inflation concerns. The fund's market value was reported as £8.997 billion as of 30 June 2026, an increase of approximately £596 million since the previous quarter. The report also detailed the fund's portfolio of investments across various asset classes, including global equities, private equity, property, infrastructure, and fixed income.

Responsible Investment and Stewardship (RI&S) Report

A report on Responsible Investment and Stewardship (RI&S) for the quarter ended 30 June 2026 was scheduled for discussion. This report aimed to outline how responsible investment practices, including environmental, social, and governance (ESG) factors, are integrated into the investment management process to protect long-term value. The report highlighted the Fund's endorsement of the Principles of Responsible Investment (PRI) and its commitment to the UK Stewardship Code. It also detailed engagement activities undertaken by the Local Authority Pension Fund Forum (LAPFF) and LGPS Central Ltd. Key engagement areas included discussions with companies operating in Conflict-Affected and High-Risk Areas (CAHRAs), particularly concerning human rights due diligence. LAPFF's engagement with BP and Drax plc on climate change mitigation strategies was also detailed, alongside discussions with NatWest and HSBC regarding their climate commitments and policies. The report also covered climate adaptation efforts within the food sector, engagement with companies on modern slavery risks, and discussions with mining companies regarding environmental and social impacts.

Local Authority Pension Fund Forum (LAPFF) Membership Review

The panel was set to review Staffordshire Pension Fund's membership of the Local Authority Pension Fund Forum (LAPFF). The report provided information on the annual costs and benefits of LAPFF membership, as well as governance and fiduciary considerations. It outlined LAPFF's role in promoting corporate social responsibility and high standards of corporate governance among investee companies, and its work in facilitating research and policy analysis. The report detailed the advantages of membership, including enhanced influence through collective voice and advocacy for responsible investment reforms. It also discussed the disadvantages, such as the potential for a lack of consensus among members. The report concluded by recommending that the Pensions Panel advise the Pensions Committee on whether the Fund should continue its LAPFF membership.

Exclusion of the Public

The agenda indicated that the public would be excluded from the meeting for several items of business, including exempt minutes from a previous meeting, economic and market updates, pension fund investment performance, strategic asset allocation updates, and discussions regarding property and private credit and infrastructure investments. These items were classified as involving the likely disclosure of exempt information under the Local Government Act 1972.