Wandsworth's pension fund, with a total value of £3,428.5 million as of 30 September 2025, has outperformed its required return for the quarter ending 30 September 2025, as well as over one and three-year periods. The fund experienced a growth of 4.7% during this quarter, according to a quarterly investment performance report presented at a Joint Pensions Committee meeting on Thursday 11 December 2025.
The report, available as part of the Public Reports Pack, noted that the fund's required return/discount rate is 4.4% annually (1.1% per quarter). The fund's performance was compared to a customised benchmark and the Local Government Pension Scheme (LGPS) peer group. While Wandsworth's pension fund achieved a return of +4.7% for the quarter ending 30 September 2025, the Local Authority Average (PIRC) was +5.2%.
The pension fund's portfolio includes investments managed by Legal & General, Baillie Gifford, RBC (managed by LCIV Global Alpha Growth fund), Columbia Threadneedle, JP Morgan, Pantheon, Sandbrook, Octopus, Brightwood, Churchill and Permira, among others.
However, not all investments performed as expected. Schroders, the property investment manager, and the London CIV Renewable Infrastructure fund did not have positive absolute returns for the quarter. The total value of the investment managed by Schroders is £89.5 million as of 30 September 2025. The Schroders fund has underperformed against the benchmark for 12 consecutive quarters. The committee was scheduled to discuss Schroders' performance in a closed session.
