The Wiltshire Pension Fund Committee is scheduled to meet on Thursday 18 June 2026 to discuss the fund's responsible investment performance, investment manager fees, and quarterly investment updates. The meeting will also cover future governance arrangements and training on pool oversight.

Responsible Investment Update & Progress Report

The committee is scheduled to receive an update on the Wiltshire Pension Fund's quarterly responsible investment performance. This report will detail progress against actions in the Responsible Investment Plan 2026/27, including climate scenario modelling, social and affordable housing impact reports, and stewardship activities. The report also highlights published stewardship activities, including compliance with the UK Stewardship Code 2026, and details site visits undertaken by the investment team. The fund's approach to responsible investment is guided by its Responsible Investment Policy, which is reviewed annually. The report notes that the fund has not received any public enquiries regarding responsible investment matters since the start of the calendar year, aside from routine Freedom of Information requests.

Quarterly Investment Update

A report concerning the Fund's investment performance is scheduled to be presented. This update will provide information on how the fund has performed and is expected to align with its long-term investment objectives and Strategic Asset Allocation (SAA). The fund's SAA is designed to be globally diversified, with a focus on developed markets, and aims to deliver competitive risk-adjusted returns. The report will likely detail the performance of various asset classes, including active equity, passive equity, gilts, private markets, property, and active debt.

Investment Manager Fee and Costs

The committee is set to receive an update on the investment manager fee costs for the year ending 31 March 2026. This report details the expenses associated with managing the fund's investments, which broadly include management fees, performance fees, and transaction costs. For the year 2025/26, the total cost associated with managing the investments was £36.6 million, representing 0.96% of the total fund value. The report indicates a slight decrease in costs compared to the previous year, attributed to lower fees in private market portfolios.

Future Governance Arrangements

The meeting agenda includes a presentation and training session from Jeff Houston on Single Purpose Pensions Authorities. This topic is likely to explore the structure and implications of consolidating pension fund administration into single entities, potentially impacting how local government pension schemes are governed and managed.

Training on Pool Oversight

Gallagher is scheduled to provide training on the committee's responsibilities for overseeing the LGPS Central Pool. This training will likely focus on the governance and oversight duties of the committee in relation to the pooling arrangements for Local Government Pension Scheme (LGPS) assets. The LGPS Central Pool is a collaboration of several LGPS funds designed to achieve economies of scale and improve investment efficiency.

Investment Pooling Update

An update concerning changes to the Pooling Arrangements is scheduled. This item will likely cover any recent developments or proposed modifications to how the Wiltshire Pension Fund's assets are managed through its pooling partner. The fund's approach to pooling is detailed in its Investment Strategy Statement.

LGPS Central Committee Update

A presentation from LGPS Central is planned, focusing on developments within the organisation and how these developments will support the fund in meeting its long-term investment objectives and Strategic Asset Allocation (SAA). This update will likely provide insights into LGPS Central's strategy and operational progress.