The Investment Committee of the City of London Council was scheduled to convene on Monday, 1 December 2025, to review treasury management reports, discuss the City Surveyor's business plan, and assess the risk register. The meeting's agenda also included updates on various investment portfolios and budget estimates.

Treasury Management Mid-Year Review

The committee was scheduled to receive a mid-year review of the Treasury Management Strategy Statement and Annual Investment Strategy for 2025/26, as reported by the Chamberlain. This review, as detailed in the document Treasury Management - Mid Year Review 2025-26 ¹, would assess the strategy in light of economic and market developments over the first half of the year, particularly concerning interest rate expectations. The report was expected to note that while investment returns were anticipated to decrease due to falling interest rates, the capital value of bond fund investments would likely increase. The Chamberlain's department was expected to confirm that no approved counterparty limits were breached and no liquidity concerns were experienced.

Treasury Management Update

A further update on the City of London Corporation's treasury management portfolio, specifically its investments, as at 31 October 2025, was scheduled for discussion. This report, titled Treasury Management Update as at 31 October 2025 ², was to provide a summary of the current asset allocation and performance. It was anticipated that the report would note a decrease in the market value of the treasury management investment portfolio compared to the previous reporting period, primarily due to expenditure on major projects and a drawdown payment for the Museum of London, offset by drawdowns from financial investments and property disposal receipts. The report was also expected to detail the asset allocation by instrument type and provide an average return for each asset type.

City Surveyor's Business Plan Update

The committee was set to receive an update on the City Surveyor's Business Plan for 2025-30, covering the second quarter of the 2025/26 financial year. This report, The City Surveyor's Business Plan ³, would provide details of key performance indicators (KPIs) against the business plan. It was expected that the report would indicate the department's progress in meeting its targets, with a breakdown of green, amber, and red indicators. The report was also to include the City Surveyor's quarter 2 budget outturn, forecasting a potential overspend on City Fund and City's Estate services, with explanations for variances provided in Appendix A of the report.

Risk Register Update

A joint report from the Chamberlain and the City Surveyor concerning the Risk Register Update for the Investment Committee was scheduled for discussion. This report, titled Risk Register Update for Investment Committee ⁴, would provide Members with an update on the management of risks relevant to the committee. It was expected to cover three risk registers: the Overarching Risk Register for the investment portfolio, the City Surveyor's Departmental Risk Register, and the Corporate Treasury Risk Register. The report was to highlight any changes made since the previous review, including the removal of certain risks from the departmental register and their monitoring at a group level. The committee would be asked to consider the overarching risks and mitigations relating to the investment portfolio, note actions taken to manage risks in the City Surveyor's operations, and review existing risks and actions on the IC Financial Investments risk register.

Forward Work Plan

The committee was also scheduled to review its Forward Work Plan, as detailed in the document Forward Plan ⁵. This item, a joint report from the Town Clerk, the Chamberlain, and the City Surveyor, was for information only.