Teesside Pension Fund’s recently published ‘Draft Pension Fund Annual Report 2024/25’ (dated November 17, 2025) reveals strategic investment shifts and ongoing commitments.
Allocation Changes Reflecting Strategic Rebalancing
For the fiscal year 2024/25, the Teesside Pension Fund executed a significant reallocation of assets. The Fund disinvested approximately £600 million from its passive equities held with State Street Global Advisers. The redemption proceeds were subsequently used to make additional investments in the Border to Coast Overseas Equity Fund. This decision was made to facilitate continued investment into new funds, including ‘Other Debt,’ and to support ongoing investments in Private Equity and Infrastructure (page 33, ‘Draft Pension Fund Annual Report 2024/25’).
Increased Commitments to Private Markets via Border to Coast
During the fiscal year 2024/25, the Fund committed further investments to Border to Coast’s private market funds, specifically in private equity and infrastructure. This follows a previous pause in commitments during 2023/24 when invested amounts were nearing or exceeding the limits set in the Investment Strategy Statement (page 84, ‘Draft Pension Fund Annual Report 2024/25’).
Manager Appointments and Changes in Administration
Effective June 1, 2025, Tyne and Wear Pension Fund will assume the role of Pensions Administrator for the Teesside Pension Fund, replacing XPS Administration (page 5, ‘Draft Pension Fund Annual Report 2024/25’).
Strategic Asset Allocation Targets for 2025
As of March 31, 2025, the Fund’s target strategic allocation is 70% to Growth Assets and 30% to Protection Assets. Within Growth Assets, the targets are 10% for UK Equities, 45% for Overseas Equities, and 15% for Private Equity. For Protection Assets, the targets are 10% for Bonds/Other Debt/Cash, 10% for Infrastructure, and 10% for Property (page 79, ‘Draft Pension Fund Annual Report 2024/25’).
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