The Investment Committee of the City of London Corporation met on Monday 1 December 2025 to discuss the Treasury Management Mid Year Review, an update to the City Surveyor's Business Plan, and a risk register update. The committee was also scheduled to discuss several items relating to the City's Estate in private session, including performance monitoring, cashflow, budgets, and potential development sites.

Risk Register Update

The Investment Committee was scheduled to review and make decisions on updates to the risk register. The risk register is a document that identifies potential risks to the City of London Corporation's investments and outlines strategies for mitigating those risks.

The report pack included a document called Risk Register Update for Investment Committee which contained a number of appendices:

• Appendix A contained within the document Appendix A
• Appendix B contained within the document Appendix B
• Appendix C contained within the document Appendix C
• Appendix D contained within the document Appendix D

City Surveyor's Business Plan

The Investment Committee was scheduled to receive an update on the City Surveyor's Business Plan 2025-30 for the second quarter of 2025/26. The City Surveyor is responsible for managing the City of London Corporation's property assets¹. The business plan likely outlines the City Surveyor's objectives and strategies for managing these assets over the five-year period.

The report pack included a document called The City Surveyors Business Plan as well as two appendices:

• Budget Monitoring Statement Q2
• Key Performance Indicator Table

Treasury Management

The Investment Committee was scheduled to discuss the Treasury Management Mid Year Review as at 30 September 2025, and a Treasury Management Update as at 31 October 2025. Treasury management refers to the management of the City of London Corporation's cash flow and investments². The mid-year review likely provides an overview of the City's financial performance during the first half of the fiscal year, while the update provides more current information.

The report pack included the following documents:

• Treasury Management - Mid Year Review 2025-26
• Treasury Management Update as at 31 October 2025
• City of London Corporation Client Specified Rates Monthly Investment Report October 2025
• Treasury Management Update as at 31 October 2025 Appendix 3

Non-Public Items

The Investment Committee also scheduled a number of items for discussion in a non-public session, meaning that the public and press were excluded. These items included:

• Approval of non-public minutes from the meeting held on 6 October 2025.
• Performance monitoring reports from Mercer and the Chamberlain relating to the City's Estate.
• A City's Estate dashboard as at 30 September 2025.
• Investment performance monitoring for the Sir William Coxen Trust Fund³, Hampstead Heath Trust, and the Charities Pool.
• A quarterly update on the City Fund and City's Estate cashflow and capital realisation.
• City Surveyor revenue budgets for 2026/27 for both the City Fund and City's Estate.
• Investment property monitoring for the City Fund and City's Estate, including rent reviews, lease renewals, voids, and arrears.
• An update on a potential development site in the Puddle Dock area.
• A major refurbishment project at 10-12 Brewery Road, part of the City's Estate Designated Sales Pool.
• A delegations request.

The non-public appendices pack included further information on:

• City Surveyor revenue budgets for 2026/27 for both the City Fund and City's Estate.
• An update on a potential development site in the Puddle Dock area.
• A major refurbishment project at 10-12 Brewery Road, part of the City's Estate Designated Sales Pool.

Other Matters

The Investment Committee was also scheduled to approve the public minutes and non-public summary of the meeting held on 6 October 2025. The committee was also scheduled to review its forward work plan, and to consider questions on matters relating to the work of the committee.