The Rhondda Cynon Taf (RCT) Pension Board, in its meeting minutes published recently on June 5, 2025, provided updates on investment performance and asset allocation.
Investment Strategy Adjustments
The Service Director – Pensions, Procurement & Transactional Services reported that the Fund is no longer investing in property due to current market difficulties. This decision reflects a strategic shift away from the asset class. (Source: RCT Pension Board Meeting Minutes, June 5, 2025, Page 2)
Local Impact Investment Declined
The Board considered a proposed local forestry investment (UK) through the Wales Pension Partnership (WPP). While acknowledging the relevance of local impact opportunities, RCT has decided not to progress with this particular investment. (Source: RCT Pension Board Meeting Minutes, June 5, 2025, Page 2)
Manager Performance Noted
Baillie Gifford’s performance has shown signs of recovery, although its equity approach continues to face challenges. (Source: RCT Pension Board Meeting Minutes, June 5, 2025, Page 2)
Voting Procedure Changes for BlackRock and Robeco
An update will be provided regarding changes to the voting procedures of BlackRock and Robeco on underlying US holdings, following new guidance issued by the SEC. (Source: RCT Pension Board Meeting Minutes, June 5, 2025, Page 4)
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