Havering Pension Fund has reported a net positive return of 6.1% for the quarter ending June 30, 2026, with the total value of its investment portfolio reaching £1.18 billion. This represents a considerable increase in assets since 2023, when the fund was valued between £800-900 million, indicating a strong growth trend.
The 6.1% net positive return was largely driven by strong global equity markets. Despite this positive performance, the fund slightly underperformed its benchmark across all reporting periods.
The Pensions Committee met on September 29, 2026, to review the fund's performance. The committee also discussed key risks and opportunities for the fund's future investments. Identified risks include funding-related issues such as financial mismatch, longevity risk, inflation risk, and interest rate risk. Asset-related risks were also highlighted, encompassing concentration risk, illiquidity risk, currency risk, and Environment, Social, and Governance (ESG) risk.
An opportunity noted by the committee is the continued enthusiasm around AI-related investments. However, this is also flagged as a potential risk due to valuation concerns.
Further details on the fund's structure and governance can be found in the Public reports pack for the September 29, 2026, Pensions Committee meeting.