Loading
The decisions as the council's minutes record them. A plain-language summary follows once it has been written.
RESOLVED that the Host Authority Update be received.
RESOLVED that the reviewed WPP Risk Register be noted.
RESOLVED that the following updated policies be approved: 6.1 Complaints Policy 6.2 Whistleblowing Policy
RESOLVED that the Operator Update be received.
RESOLVED that the Performance Reports of the following sub-funds as at 30th June 2026 be noted: 8.1 Global Growth Equity Fund 8.2 Global Opportunities Equity Fund 8.3 Sustainable Active Equity Fund 8.4 Emerging Markets Equity Fund 8.5 UK Opportunities Equity Fund 8.6 Global Government Bond Fund 8.7 Global Credit Fund 8.8 Multi Asset Credit Fund 8.9 Absolute Return Bond Fund 8.10 Sterling Credit Fund
RESOLVED that the presentation from the Wales Pension Partnership Investment Management Company be received.
No apologies for absence were received.
Member Agenda Item No. Interest Cllr. E. Hywel All Items. She is a member of the Gwynedd Pension Fund. Cllr. L. Thomson All Items. She is a member of the Cardiff & Vale Pension Fund. Cllr. P. Lewis All Items. He is a member of the Powys Pension Fund. Cllr. C. Bithell All Items. Close relative is a member of the Clwyd Pension Fund. Also receives Survivor's Pension from Clwyd Pension Fund. Cllr. J. Smith All Items. She is a member of the RCT Pension Fund. Cllr. N. Yeowell All Items. He is a member of the Greater Gwent Pension Fund. Cllr. E. Williams All Items. He is a member of the Dyfed Pension Fund. Cllr. M. Lewis All Items. Receives Pension from Swansea Pension Fund. [Note: There is an exemption within the Code of Conduct for Members, which allows a member who has been appointed or nominated by their Authority to a relevant body to declare that interest but remain and participate in the meeting.]
UNANIMOUSLY RESOLVED that the minutes of the Joint Governance Committee meeting held on 15th July 2026 be signed as a correct record.
Decision as recorded
RESOLVED that the Host Authority Update be received.
[NOTE: Councillors E. Hywel, L. Thomson, P. Lewis, C. Bithell, J. Smith, N. Yeowell, E. Williams and M. Lewis had earlier declared an interest in this item.] The Joint Governance Committee (JGC) received a progress update from the Host Authority regarding the following areas: • Governance. • IM Co. Support and Oversight. • Responsible Investment. • Communication, Training and Budget. UNANIMOUSLY RESOLVED that the Host Authority Update be received.
Decision as recorded
RESOLVED that the reviewed WPP Risk Register be noted.
[NOTE: Councillors E. Hywel, L. Thomson, P. Lewis, C. Bithell, J. Smith, N. Yeowell, E. Williams and M. Lewis had earlier declared an interest in this item.] The Committee considered the reviewed Risk Register for approval. The purpose of the Wales Pension Partnership (WPP) Risk Register is to: • Outline the WPP's key risks and factors that may limit its ability to meet its objectives. • Quantify the severity and probability of the risk facing the WPP. • Summarise the WPP's risk management strategies. • Monitor the ongoing significance of these risks and the requirement for further risk mitigation strategies. As part of the Officer Working Group's dedicated WPP Risk Sub-Group review of the register, the Committee was advised that no changes were made to the risk outcomes during the period under review. UNANIMOUSLY RESOLVED that the reviewed WPP Risk Register be noted.
Decision as recorded
RESOLVED that the following updated policies be approved: 6.1 Complaints Policy 6.2 Whistleblowing Policy
[NOTE: Councillors E. Hywel, L. Thomson, P. Lewis, C. Bithell, J. Smith, N. Yeowell, E. Williams and M. Lewis had earlier declared an interest in this item.] The Joint Committee received for consideration the following updated policies: • Complaints Policy. • Whistleblowing Policy. All policies are regularly reviewed, the amendments recommended from the latest review require approval by the Joint Committee in line with the Inter Authority Agreement. The Committee was reminded of the key details of both policies and notified of the minor amendments made to both to clarify procedures, as outlined in the report. UNANIMOUSLY RESOLVED that the following updated policies be approved: 6.1 Complaints Policy 6.2 Whistleblowing Policy
Decision as recorded
RESOLVED that the Operator Update be received.
[NOTE: Councillors E. Hywel, L. Thomson, P. Lewis, C. Bithell, J. Smith, N. Yeowell, E. Williams and M. Lewis had earlier declared an interest in this item.] The JGC received a presentation provided by Waystone Management (UK) Limited, outlining WPP’s progress for Q2 of 2026 on the following areas: • Corporate and Compliance Updates. • Relationship Overview. • Sub-fund Updates. • Initiatives and Market Updates. • Oversight – Third Party Monitoring. • Engagement and Meeting Schedule. Specific updates were provided to the Committee regarding the following: • Corporate and Compliance Update. • Relationship Overview. • AUM summary as at 30 June 2026. • Market updates in relation to Russia / Ukraine and the Middle East. • Oversight – Third Party Monitoring. • Engagement and Meeting Schedules. UNANIMOUSLY RESOLVED that the Operator Update be received.
Decision as recorded
RESOLVED that the Performance Reports of the following sub-funds as at 30th June 2026 be noted: 8.1 Global Growth Equity Fund 8.2 Global Opportunities Equity Fund 8.3 Sustainable Active Equity Fund 8.4 Emerging Markets Equity Fund 8.5 UK Opportunities Equity Fund 8.6 Global Government Bond Fund 8.7 Global Credit Fund 8.8 Multi Asset Credit Fund 8.9 Absolute Return Bond Fund 8.10 Sterling Credit Fund
[NOTE: Councillors E. Hywel, L. Thomson, P. Lewis, C. Bithell, J. Smith, N. Yeowell, E. Williams and M. Lewis had earlier declared an interest in this item.] The Committee received a presentation to note the Performance Reports for the WPP’s sub-funds as at 30 June 2026. Members were advised that the sub-funds had outperformed or underperformed their benchmarks, as below: • Global Growth: Underperformed by 1.5% gross, 1.9% net. • Global Opportunities: Outperformed by 0.7% gross, 0.3% net. • Sustainable Active Equity: Underperformed by 4.0% gross, 4.4% net. • Emerging Markets: Outperformed by 1.2% gross, 0.8% net. • UK Opportunities: Underperformed by 0.7% gross, 1.1% net. • Global Government Bond: Outperformed by 0.6% gross, 0.4% net. • Global Credit: Benchmark met gross, underperformed by 0.2% net • Multi Asset Credit: Underperformed by 2.5% gross, 2.9% net. • Absolute Return Bond: Underperformed by 0.5% gross, 0.8% net. • Sterling Credit: Outperformed by 0.8% gross, 0.7% net. UNANIMOUSLY RESOLVED that the Performance Reports of the following sub-funds as at 30th June 2026 be noted: 8.1 Global Growth Equity Fund 8.2 Global Opportunities Equity Fund 8.3 Sustainable Active Equity Fund 8.4 Emerging Markets Equity Fund 8.5 UK Opportunities Equity Fund 8.6 Global Government Bond Fund 8.7 Global Credit Fund 8.8 Multi Asset Credit Fund 8.9 Absolute Return Bond Fund 8.10 Sterling Credit Fund
Decision as recorded
RESOLVED that the presentation from the Wales Pension Partnership Investment Management Company be received.
[NOTE: Councillors E. Hywel, L. Thomson, P. Lewis, C. Bithell, J. Smith, N. Yeowell, E. Williams and M. Lewis had earlier declared an interest in this item.] WPP IM Co is the investment management company for the Wales Pension Partnership. The JGC received a presentation from the company's CEO outlining progress achieved in relation to Governance, People and Operations. UNANIMOUSLY RESOLVED that the presentation from the Wales Pension Partnership Investment Management Company be received.
UNANIMOUSLY RESOLVED, pursuant to the Local Government Act 1972, as amended by the Local Government (Access to Information) (Variation) (Wales) Order 2007, that the public be excluded from the meeting during consideration of the following item as the reports contained exempt information as defined in paragraph 14 of Part 4 of Schedule 12A to the Act.
Councillors must say when they have a personal link to something being discussed, such as a job, a property or a family member. A prejudicial interest is one strong enough that the councillor usually leaves the room and takes no part.
Declarations are read from the minutes once they are published.
Lists the council's current councillors only. Co-opted members, officers and former councillors aren't shown.