The Merton Council Pensions Committee is scheduled to meet on Wednesday 10 December 2025. The agenda includes discussion of the fund's performance, an investment review update, and a review of pension administration performance. Some of these discussions will be held after the exclusion of the public.

Quarterly Performance Review

The committee is scheduled to review the Merton Pension Fund's performance for the quarter ending 30 September 2025. A report pack from Hymans Robertson, the fund's investment and performance consultants, will be provided to the committee.

The report pack notes that the fund's total assets increased from approximately £988 million to approximately £1.021 billion during the quarter.

The report pack also notes that:

The Fund recorded an absolute return of +4.1% during Q3 2025, outperforming its aggregate benchmark by 0.4%. Over the longer time periods of 12 months and 3 years, the Fund has lagged its benchmark with relative returns of -0.5% and -2.3% p.a. respectively.

The report pack also notes that global equities produced strong returns due to optimism over US interest rate cuts and easing of trade tensions.

The report pack also contains commentary on the performance of the fund's investment managers, including BlackRock, LCIV, UBS, M&G, Invesco, Henley, MIRA, Quinbrook, JP Morgan, Permira, Churchill and Allspring.

Investment Review Update

The committee is scheduled to receive an update on investment matters.

Pension Administration Performance

The committee is scheduled to discuss pension administration performance.

Exclusion of the Public

The committee may resolve to exclude the public from the meeting during consideration of some reports on the grounds that they are exempt from disclosure.