The Pension Investment Sub-Committee of Worcestershire Council scheduled a meeting to discuss the Worcestershire Pension Fund's investments. The agenda included a performance update, a review of Nomura's management of Far East Developed Equities & Emerging Markets, and a training presentation on growth investing from Baillie Gifford. Councillors were also asked to exclude the public and press from the meeting for certain items due to the discussion of exempt financial information.

Pensions Investment Performance Update

The sub-committee was scheduled to receive an update on the performance of the Worcestershire Pension Fund. The report pack included 64 pages of information relating to this update.

Nomura Performance Review

The sub-committee was scheduled to review the performance of Nomura in managing the Worcestershire Pension Fund's Far East Developed Equities & Emerging Markets investments. The report pack included 30 pages of information relating to this review.

Active Equities Training Presentation

Baillie Gifford were scheduled to give a training presentation on growth investing. The report pack included 30 pages of information relating to this presentation.

Exclusion of Public and Press

The sub-committee was to consider a request to exclude the public and press from the meeting during discussion of some items. The reason given was that:

The Sub-Committee will be asked to exclude the press and public from the meeting for the following items as it is likely that exempt information relating to the financial or business affairs of any particular person (including the local authority holding that information) will be disclosed.

Other items

The agenda also included items for apologies, declarations of interest, and public participation. Members of the public who wished to participate were asked to notify the Assistant Director for Legal and Governance by 9.00am on 27 November 2025.