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• 

  00

  Opening

  
  • 0:36 Cllr. Rishi Madlani
  • 1:45 Cllr. Heather Johnson
  • 1:49 Cllr. Rishi Madlani
  • 1:51 Cllr. Anna Burrage
  • 1:53 Cllr. Rishi Madlani
  • 1:54 Cllr. Rebecca Filer
  • 1:57 Cllr. Rishi Madlani
  • 1:58 Cllr. Edmund Frondigoun
  • 2:01 Cllr. Rishi Madlani
  • 2:02 Cllr. James Slater
  • 2:05 Cllr. Rishi Madlani
• 

  01

  Apologies

  
  • 2:25 Sola Odusina
  • 2:28 Cllr. James Slater
  • 2:29 Cllr. James Slater
  • 2:31 Cllr. Rishi Madlani
• 

  02

  Declarations by Members of Statutory Disclosable Pecuniary Interests, Compulsory Registerable Non-Pecuniary Interests and Voluntary Registerable Non-Pecuniary Interests in Matters on this Agenda

  
• 

  03

  Announcements (If Any)

  
• 

  04

  Deputations (If Any)

  

  Requests to speak at the Committee on a matter within its terms of reference must be made in writing to the Democratic Services Officer named on the front of this agenda by 5pm two working days before the meeting.

   
• 

  05

  Notification of Any Items of Business the Chair Decides to Take as Urgent

  
• 

  06

  Minutes

  

  To approve as a correct record the Minutes of the meeting held on 22nd October 2025.

   

   

   
• 

  07

  Investment Strategy Review

  

  Report of the Executive Director Corporate Services.

   

  The report presents a new Investment Strategy Statement (ISS) for the Camden Pension Fund, prepared by the Fund’s Investment Consultant, Isio. The new ISS reflects the outcomes of the 2025 Investment Strategy Review, updates to the Fund’s investment beliefs, and incorporates recent regulatory and pooling developments.

   

  The ISS has been drafted in accordance with the statutory guidance issued by the Ministry of Housing, Communities and Local Government in July 2017, titled Guidance on Preparing and Maintaining an Investment Strategy Statement.

  • 5:29 Cllr. Rishi Madlani
  • 13:20 Cllr. Rishi Madlani
  • 13:24 Cllr. Rishi Madlani
  • 19:56 Cllr. Rishi Madlani
  • 19:58 Cllr. Rishi Madlani
  • 19:58 Cllr. Edmund Frondigoun
  • 20:00 Cllr. Edmund Frondigoun
  • 20:29 Cllr. Edmund Frondigoun
  • 20:33 Cllr. Rishi Madlani
  • 20:35 Cllr. Jenny Mulholland
  • 21:06 Cllr. Jenny Mulholland
  • 22:32 Cllr. Rishi Madlani
  • 23:05 Cllr. Rishi Madlani
  • 24:39 Cllr. Rishi Madlani
  • 24:41 Cllr. Rishi Madlani
  • 27:06 Cllr. Rishi Madlani
  • 27:13 Cllr. Rishi Madlani
  • 29:50 Cllr. Rishi Madlani
  • 29:51 Cllr. James Slater
  • 29:52 Cllr. James Slater
  • 29:53 Cllr. James Slater
  • 31:20 Cllr. Rishi Madlani
  • 32:02 Cllr. Rishi Madlani
  • 33:13 Cllr. James Slater
  • 34:00 Cllr. Rishi Madlani
  • 34:01 Cllr. Jenny Mulholland
  • 35:35 Cllr. Anna Burrage
  • 46:33 Cllr. Rishi Madlani
  • 46:38 Cllr. Anna Burrage
  • 49:39 Cllr. Rishi Madlani
  • 49:41 Cllr. Jenny Mulholland
  • 49:44 Cllr. Jenny Mulholland
  • 51:10 Cllr. Rishi Madlani
  • 51:12 Cllr. Jenny Mulholland
  • 51:12 Cllr. Jenny Mulholland
  • 52:35 Cllr. Rishi Madlani
  • 55:09 Cllr. Rishi Madlani
  • 55:09 Cllr. Rishi Madlani
  • 56:43 Cllr. Rishi Madlani
  • 56:57 Cllr. Jenny Mulholland
  • 56:58 Cllr. Jenny Mulholland
  • 57:39 Cllr. Rishi Madlani
  • 57:40 Cllr. Rishi Madlani
  • 58:56 Cllr. Rishi Madlani
  • 58:57 Karen Shackleton
  • 58:59 Karen Shackleton
  • 1:00:31 Cllr. Rishi Madlani
  • 1:00:55 Daniel Omisore
  • 1:00:57 Daniel Omisore
  • 1:01:40 Cllr. Rishi Madlani
  • 1:03:06 Cllr. Jenny Mulholland
  • 1:03:13 Cllr. Rishi Madlani
  • 1:03:28 Cllr. Rishi Madlani
  • 1:03:30 Cllr. Rishi Madlani
• 

  08

  Performance Report

  

  Report of Executive Director Corporate Services.

   

  The report presents the performance of the Pension Fund investment portfolio and that of the individual investment managers for the quarter ended 30 September 2025.

   

   

   

  • 1:05:35 Karen Shackleton
  • 1:08:19 Cllr. Anna Burrage
  • 1:08:28 Karen Shackleton
  • 1:08:29 Karen Shackleton
  • 1:15:03 Cllr. Rishi Madlani
  • 1:15:06 Cllr. James Slater
  • 1:15:07 Cllr. James Slater
  • 1:16:09 Cllr. Rishi Madlani
  • 1:16:10 Karen Shackleton
  • 1:16:13 Karen Shackleton
  • 1:16:17 Cllr. James Slater
  • 1:16:19 Cllr. Rishi Madlani
  • 1:16:26 Cllr. James Slater
  • 1:16:26 Daniel Omisore
  • 1:16:53 Daniel Omisore
  • 1:17:13 Cllr. Rishi Madlani
  • 1:17:14 Cllr. Rishi Madlani
  • 1:17:30 Cllr. James Slater
  • 1:17:34 Cllr. James Slater
  • 1:17:40 Cllr. James Slater
  • 1:17:54 Cllr. Rishi Madlani
  • 1:17:57 Cllr. Rishi Madlani
  • 1:18:12 Cllr. Rishi Madlani
  • 1:18:13 Cllr. Rishi Madlani
  • 1:18:18 Cllr. Jenny Mulholland
  • 1:18:44 Karen Shackleton
  • 1:18:55 Cllr. Jenny Mulholland
  • 1:18:55 Cllr. Jenny Mulholland
  • 1:19:09 Karen Shackleton
  • 1:19:48 Cllr. Rishi Madlani
  • 1:20:08 Karen Shackleton
  • 1:21:11 Cllr. Rishi Madlani
  • 1:21:11 Cllr. Rishi Madlani
  • 1:21:53 Cllr. Rishi Madlani
  • 1:22:43 Cllr. Rishi Madlani
  • 1:23:08 Cllr. Rishi Madlani
  • 1:23:59 Cllr. Rishi Madlani
• 

  09

  London Collective Investment Vehicle Progress Report

  

  Report of the Executive Director Corporate Services.

   

  The report provides a brief update on recent developments at the London Collective Investment Vehicle (CIV). Owing to the heavy agenda for this meeting, the update is limited to the proposal from Buckinghamshire Pension Fund to join the London CIV as a Partner Fund. Progress with the London CIV continues to contribute to the Government’s pooling agenda and the drive to achieve greater efficiencies and cost savings within the Local Government Pension Scheme (LGPS).

   

  • 1:26:53 Cllr. Rishi Madlani
  • 1:26:53 Daniel Omisore
  • 1:29:55 Cllr. Rishi Madlani
  • 1:29:58 Cllr. Anna Burrage
  • 1:30:18 Daniel Omisore
  • 1:32:22 Cllr. Rishi Madlani
• 

  10

  Funding Strategy Statement

  

  Report of the Executive Director Corporate Services.

   

  The report sets out revisions to the Funding Strategy Statement (FSS) which establishes how scheme employers in the Pension Fund are treated. It sets out how employer liabilities are measured, the pace at which these liabilities are funded and how employers or pools within the Fund pay for their liabilities.

  • 1:36:32 Cllr. Rishi Madlani
  • 1:36:33 Cllr. Rishi Madlani
  • 1:39:06 Cllr. Rishi Madlani
  • 1:40:09 Cllr. James Slater
  • 1:40:13 Cllr. James Slater
  • 1:40:42 Cllr. Rishi Madlani
  • 1:40:47 Cllr. James Slater
  • 1:42:08 Cllr. Rishi Madlani
  • 1:46:37 Cllr. James Slater
  • 1:46:37 Cllr. Rishi Madlani
  • 1:46:39 Cllr. James Slater
  • 1:47:26 Cllr. Rishi Madlani
  • 1:47:27 Cllr. Rishi Madlani
  • 1:49:22 Cllr. Rishi Madlani
  • 1:49:31 Cllr. Anna Burrage
  • 1:49:35 Cllr. Anna Burrage
  • 1:50:41 Cllr. Rishi Madlani
  • 1:52:42 Cllr. Rishi Madlani
  • 1:52:43 Cllr. Rishi Madlani
  • 1:55:25 Cllr. Rishi Madlani
  • 1:55:36 Cllr. Jenny Mulholland
  • 1:56:16 Cllr. Rishi Madlani
  • 1:56:23 Cllr. Rishi Madlani
  • 1:57:11 Cllr. Rishi Madlani
  • 1:57:12 Cllr. Jenny Mulholland
  • 1:57:14 Cllr. Jenny Mulholland
  • 1:57:59 Cllr. Rishi Madlani
  • 1:58:08 Cllr. Jenny Mulholland
  • 1:58:22 Cllr. Rishi Madlani
  • 1:58:24 Cllr. Jenny Mulholland
  • 1:58:25 Cllr. Jenny Mulholland
  • 1:58:26 Cllr. Rishi Madlani
  • 1:59:06 Cllr. James Slater
  • 1:59:08 Cllr. James Slater
  • 1:59:28 Cllr. Rishi Madlani
  • 1:59:49 Cllr. Rishi Madlani
  • 2:05:38 Cllr. Rishi Madlani
  • 2:05:41 Cllr. James Slater
  • 2:06:34 Cllr. Rishi Madlani
  • 2:06:35 Cllr. Rebecca Filer
  • 2:07:08 Cllr. Rebecca Filer
  • 2:07:42 Cllr. Rishi Madlani
  • 2:07:50 Cllr. Rishi Madlani
• 

  11

  Admissions Policy

  

  Report of the Executive Director Corporate Services.

   

  The report presents a draft Admissions Policy for the Camden Pension Fund. The policy sets out the Fund’s framework for admitting new employers in accordance with the Local Government Pension Scheme Regulations 2013. It clarifies the Fund’s default approach to new admissions, including the treatment of contractors admitted following outsourcing arrangements, and outlines the responsibilities of administering authorities, letting authorities and participating employers.

   

  The policy aims to ensure that new admissions are managed transparently, consistently and in a way that protects the interests of the Fund and its employers. Approval is sought for the policy to be adopted and published alongside the Fund’s wider suite of governance and funding documents.

  • 2:13:29 Cllr. Rishi Madlani
  • 2:13:30 Cllr. Rishi Madlani
  • 2:13:30 Cllr. Anna Burrage
  • 2:15:41 Cllr. Rishi Madlani
  • 2:15:41 Cllr. Rishi Madlani
  • 2:17:00 Cllr. Rishi Madlani
  • 2:17:02 Cllr. Rishi Madlani
  • 2:17:50 Cllr. Rishi Madlani
• 

  12

  Contributions Review Policy

  

  Report of the Executive Director Corporate Services.

   

  The report presents the draft Contributions Review Policy for approval. The policy sets out the circumstances under which the administering authority may review employer contribution rates between triennial valuations, in line with the Local Government Pension Scheme (LGPS) Regulations and Ministry of Housing, Communities and Local Government (MHCLG) statutory guidance.

   

  The purpose of the policy is to provide employers with transparency and consistency, particularly in situations involving significant changes to funding, employer covenant, membership profile, or anticipated exit from the Fund. Adoption of the policy is a regulatory requirement and supports the Fund’s objective of maintaining stable and affordable employer contributions while protecting the interests of all scheme members.

   

   

   

  • 2:22:48 Cllr. Rishi Madlani
  • 2:25:08 Cllr. Rishi Madlani
  • 2:25:09 Cllr. Rishi Madlani
• 

  13

  Cessation Policy

  

  Report of the Executive Director Corporate Services.

   

  The report presents the Cessation Policy for approval. The policy sets out the administering authority’s approach to managing the cessation of employers participating in the Camden Pension Fund. It clarifies how liabilities are calculated when an employer exits the Fund, how any resulting surplus or deficit is treated, and how the Fund exercises its discretionary powers under the Local Government Pension Scheme (LGPS) Regulations 2013 (as amended).

   

  The policy has been prepared by the Fund Actuary, Hymans Robertson, in line with Regulation 64 of the LGPS Regulations 2013 and statutory guidance from the Ministry of Housing, Communities and Local Government (MHCLG). It complements Section 7 of the Fund’s Funding Strategy Statement (FSS) and provides operational detail on the Fund’s treatment of cessation events.

  • 2:29:47 Cllr. Rishi Madlani
  • 2:29:47 Cllr. Rishi Madlani
  • 2:29:48 Cllr. Jenny Mulholland
  • 2:29:48 Cllr. Jenny Mulholland
  • 2:31:44 Cllr. Rishi Madlani
  • 2:31:45 Cllr. Jenny Mulholland
  • 2:31:45 Cllr. Jenny Mulholland
  • 2:31:45 Cllr. Jenny Mulholland
  • 2:33:03 Cllr. Rishi Madlani
  • 2:33:05 Cllr. Rishi Madlani
• 

  14

  Engagement Report

  

  Report of the Executive Director Corporate Services.

   

  The report brings Members up to date with engagement activity undertaken by the Fund and on its behalf by LAPFF (the Local Authority Pension Fund Forum) since the last Committee meeting. This work is important to the Fund’s ambition to be a fully engaged investor and demonstrates its commitment to Responsible Investment and engagement in Environmental, Social and Governance (ESG) issues as the Fund works to maximise returns on investment.

   

   

   

  • 2:37:03 Cllr. Rishi Madlani
  • 2:37:06 Cllr. Heather Johnson
  • 2:37:06 Cllr. Heather Johnson
  • 2:38:24 Cllr. Rishi Madlani
  • 2:38:26 Cllr. Rishi Madlani
  • 2:39:33 Cllr. Anna Burrage
  • 2:40:12 Cllr. Rishi Madlani
• 

  15

  Any Other Business that the Chair Considers Urgent

  

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• 

  Minutes of Previous Meeting

• 

  1. Investment Strategy Statement Cover (Dec 25 PC) - Legal Final

• 

  1a. Appendix A - Investment Strategy Review 2025

• 

  1b. Appendix B - Investment Strategy Statement Legal Final

• 

  2. Performance Report QE Sep 2025 (PC Dec 25)

• 

  2ab. Apex - London Borough of Camden Report - Q3 2025

• 

  3. CIV Progress Report QE September 2025 (Dec 25 PC) - Legal Final

• 

  4.1. Funding Strategy Statement Cover (Dec 25 PC) - Legal Final

• 

  4.1.a. Appendix A Funding Strategy Statement Legal Final

• 

  4.3. Admissions Policy Cover (Dec 25 PC) Legal Final

• 

  4.3.a. Appendix A - Admissions policy draft (passthrough) - Legal Final

• 

  4.2. Contributions Review Policy Cover (Dec 25 PC) Legal Final

• 

  4.2.a. Appendix A - Contributions review policy draft Legal Final

• 

  4.4. Cessation Policy Cover (Dec 25 PC) - Legal Final

• 

  4.4.a. Appendix A - Cessation policy draft - Legal Final

• 

  5. Engagement Report QE Sep 2025 (Dec 25 PC) - Legal Final

• 

  5.a. Appendix A - LAPFF_QER03_2025

• 

  5.b. Appendix B - 2025.Q3.Camden.Voting.Full

• 

  0. Draft Responsible Investment Policy Paper (Dec 25 PC) - Saul Reviewed and Amended (002)

• 

  0a. Appendix 1 - Summary of Screening and Analysis

• 

  0b. Appendix 2 - Camden RI Policy Finalised Draft

There are no members...

• 

  Vacant

• 

  Kathy Anifowose

• 

  Cllr. Kemi Atolagbe

• 

  Cllr. Anna Burrage

• 

  Laura Chapman

• 

  Billie Cooper

• 

  Cllr. Matt Cooper

• 

  Hamilton Daley

• 

  Cllr. Nina De Ayala Parker

• 

  George Ekontang

• 

  Cllr. Rebecca Filer

• 

  Cllr. Edmund Frondigoun

• 

  Errol Ghanie

• 

  Tom Hoare

• 

  Cllr. Heather Johnson

• 

  Cllr. Matthew Kirk

• 

  Cllr. Rishi Madlani

• 

  Andrew Maughan

• 

  Tim Mpofu

• 

  Cllr. Jenny Mulholland

• 

  Priya Nair

• 

  Priya Nair

• 

  Sola Odusina

• 

  Daniel Omisore

• 

  Saul Omuco

• 

  Joanne Reeves

• 

  Carlito Rendora

• 

  Jon Rowney

• 

  Vinothan Sangarapillai

• 

  Democratic Services

• 

  Karen Shackleton

• 

  Cllr. Tom Simon

• 

  Andrew Singh

• 

  Cllr. James Slater

• 

  Peter Taylor

• 

  Vicky Wemyss-Cooke

• 

  Bob Young

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