The Investment Committee's meeting on Monday 5 October 2026 was scheduled to cover a range of financial and risk management topics. Key discussions were expected to focus on the performance of the City's investment portfolio, treasury management updates, and a review of various risk registers.

Public Minutes

The committee was scheduled to approve the public minutes and non-public summary of the previous meeting held on 20 July 2026.

Committee's Forward Work Plan

A joint report from the Chamberlain and the City Surveyor was scheduled to be presented for information, outlining the committee's forward work plan.

Treasury Management Update

The Chamberlain was scheduled to provide an update on the City of London Corporation's treasury management portfolio, including its current asset allocation and performance as at 28 August 2026. This report indicated that the treasury management investment portfolio had a market value of £962.0 million, a decrease of £38.4 million from the previous reporting period. The report also detailed the asset allocation by instrument type and provided an analysis of investment returns, noting that money market rates had remained broadly stable. The Bank of England's Monetary Policy Committee (MPC) had held Bank Rate at 3.75% at its June, July, and September meetings, with market expectations suggesting further tightening in the near term.

City Surveyor's & Corporate Treasury Risk Report

A joint report from the Chamberlain and the City Surveyor was scheduled to provide an update on the management of risks relevant to the Investment Committee. This report included an update on three risk registers: the Overarching Risk Register, the City Surveyor's Departmental Risk Register, and the Corporate Treasury Risk Register.

The Overarching Portfolio Risk Register highlighted several key risks, including External Economic Risk (rated 16, Red), Investment Performance Strategy Risk (rated 12, Amber), Sustainability and Impact (rated 6, Amber), Cashflow Management (rated 4, Green), and Governance (rated 4, Green). The report noted that the risk rating for External Economic Risk had been increased due to ongoing geopolitical tensions, impacting property and financial investment valuations. The Investment Performance Strategy Risk had also seen an increase in impact, reflecting lower than expected returns for the City Estate's financial investment portfolio.

The City Surveyor's Departmental Risk Register included Investment Strategy Risk (rated 16, Red), Construction Consultancy Management (rated 16, Red), and Construction and Service Contracts Price Inflation (rated 12, Amber).

The Corporate Treasury Risk Register identified risks such as Insufficient assets - City's Estate (rated 16, Red), Targeted returns - City's Estate (rated 8, Amber), Service provider failure (rated 4, Green), Failure to discharge responsible investment duties (rated 4, Green), and Counterparty failure - Treasury Management (rated 2, Green). The report indicated that the Insufficient assets - City's Estate risk remained high due to ongoing global economic market uncertainty.

The report also detailed the risk assessment methodology, which involves a risk matrix and the 4T's approach to risk management: tolerate, transfer, terminate, or treat. Members were asked to note the risks and the mitigating actions being taken. It was also noted that the Risk Registers would now be presented to the Investment Committee on a six-monthly basis.

Questions on Matters Relating to the Work of the Committee

The agenda included a slot for members of the public to ask questions on matters relating to the work of the committee.

Any Other Business

The agenda allowed for any other urgent business to be raised, at the Chair's discretion.

Exclusion of the Public

A motion was scheduled to be considered for the exclusion of the public from the meeting for the following items, on the grounds that they would likely involve the disclosure of exempt information.

Non-Public Minutes

Following the exclusion of the public, the committee was scheduled to approve the non-public minutes of the meeting held on 20 July 2026.

Financial Investment Portfolio - Strategy Update

A report from the Chamberlain was scheduled for decision, providing a strategy update on the financial investment portfolio.

Performance Monitoring

The committee was scheduled to receive information on performance monitoring, including a Quarterly Investment Report from Marsh and a report on the Performance Monitoring of the City's Estate to 31 July 2026 from the Chamberlain.

City's Estate Dashboard (OCIO) - Quarterly

A quarterly update on the City's Estate Dashboard was scheduled to be provided by the Chamberlain.

City Fund & City's Estate Cashflow Position and Capital Realisation - Monitoring

The Chamberlain was scheduled to present a report for information on the cashflow position and capital realisation within the City Fund and City's Estate.

Investment Strategy for Investment Property

An update on the investment strategy for investment property was scheduled to be provided for information.

All Estates - Review of Metrics Used in Making Major Decisions - Annual Review

The City Surveyor was scheduled to present an annual review of the metrics used in making major decisions concerning all estates, for decision.

City Fund & City's Estate: MSCI Report 2026

The City Surveyor was scheduled to present the MSCI Report 2026 for the City Fund & City's Estate for information.

Climate Action Update - Presentation

The City Surveyor was scheduled to provide a presentation on the Climate Action Update.

City Fund & City's Estate: Actions Under City Surveyor's Delegated Authority

A report from the City Surveyor detailing actions taken under delegated authority for the City Fund & City's Estate was scheduled for information.

Report of Action Taken Since the Last Meeting of the Committee

The Town Clerk was scheduled to provide a report on actions taken since the last meeting of the committee.

Non-Public Questions on Matters Relating to the Work of the Committee

The agenda included a slot for non-public questions on matters relating to the work of the committee.

Any Other Business That the Chairman Considers Urgent

The agenda allowed for any other urgent business, considered by the Chairman and agreed by the committee, to be discussed while the public were excluded.