The Teesside Pension Fund Committee is scheduled to meet on Wednesday 16 September 2026 to review investment performance, discuss the fund's investment strategy, and consider updates on pooling and governance. The meeting will also cover training and risk management for the fund.

Investment Activity Report

The committee will receive an update on the Teesside Pension Fund's investment activity for the quarter ending 30 June 2026. This report, titled Investment Activity Report (incl. TM Report, Valuation & Forward Investment Programme) , details the transactions undertaken to implement investment advice and provides the fund's valuation. It will also cover the treasury management of the fund's cash balances, adhering to the Chartered Institute of Public Finance & Accountancy (CIPFA) Code of Practice. The report indicates a continued favouring of growth assets over protection assets, with no investments currently held in bonds. The fund's equity weighting stood at 60.15% at the end of June 2026. The report also details investments in Local assets, including the Ethical Housing Company, Waste Knot, and FW Capital, and provides an overview of commitments to private equity, infrastructure, and other debt.

Border to Coast Presentations

Two presentations from Border to Coast Pensions Partnership are scheduled. The first, Border to Coast Presentation - Fixed Income , will focus on fixed income as a portfolio building block, discussing its role in managing risk and achieving returns. The second, Border to Coast Presentation - Quarterly Update , will provide an overview of the partnership's performance and developments.

Investment Advisor Report

The committee will receive an Investment Advisor Report from William Bourne, the fund's independent investment advisor. This report will provide commentary on current capital market conditions and advice on asset allocation, including potential implications of geopolitical events and economic trends on investment markets. Mr. Bourne's commentary suggests that equity markets may be nearing a secular peak and highlights concerns regarding the US's fiscal position and its potential impact on bond yields and currency markets.

Review of Investment Strategy Statement

A significant item on the agenda is the Review of Investment Strategy Statement . This report discusses the proposed revisions to the fund's Investment Strategy Statement (ISS), which is required by the Pensions Act 2026. The ISS outlines the fund's roles and responsibilities, investment beliefs, preferences, objectives, strategic asset allocation, and approach to responsible and local investment. The proposed Strategic Asset Allocation (SAA) shifts towards a greater allocation to Credit and UK Government Bonds, while slightly reducing Equity and Infrastructure/Real Estate. The report also addresses the implementation of responsible investment principles, including engagement with companies on ESG factors, and proposes a target range of 0-5% for Local Investments, with a preferred focus on the North-East Region or Teesside.

LGPS and Pooling Update

The LGPS and Pooling Update report will cover recent changes within the Local Government Pension Scheme (LGPS) environment, including the implications of the Pensions Act 2026 for both Border to Coast and the Teesside Pension Fund. It will discuss the implementation of the new operating model for asset pooling, including the Investment Management Agreement (IMA) and the services Border to Coast will provide. The report also touches upon the Scheme Advisory Board's Actuarial Valuations Report, the latest position on investment in conflict zones, and developments in Border to Coast's investment propositions.

Training Update

The Training Update report addresses the knowledge and skills requirements for Pension Committee members, as outlined in the latest LGPS guidance following the Pensions Act 2026. It details the intention to use Hymans' National Knowledge Assessment tool to identify knowledge gaps and suggests various training opportunities, including conferences and webinars, to support members in meeting these requirements.

Risk Register Review

The committee will review the Risk Register , which details the key risks affecting the Pension Fund. The report highlights a new risk, TPF055 - Artificial Intelligence Risks , and modifications to existing risks, TPF037 - Compliance Failures and TPF026 - Insecure Data . The register includes assessments of impact and likelihood for various risks, such as inflation, global financial instability, political risk, and climate change.

Exempt Items

The agenda also includes items designated as Exempt - McCloud Progress and Exempt - Pension Administration Report . These items are scheduled for discussion with the press and public excluded, as they are expected to involve the disclosure of exempt information.

The meeting will be chaired by Councillor J Kabuye. Attendees include various councillors and officers, including Councillor Julia Rostron (Executive Member for Adult Social Care) and Councillor David Coupe (Group Leader).