Monthly Market Update – June Edition
We are pleased to announce the launch of our monthly Market Update. The update provides a snapshot of key market developments relevant to Local Authorities.
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Border to Coast (BTC) 1Q26
We are pleased to share our latest quarterly review of Border to Coast (BTC), covering 1Q26 fund performance, market backdrop, key risk considerations and discussion questions for LGPS fund oversight.
1Q26 was a challenging quarter, with positive absolute returns concentrated in EM equities and the UK Listed Equity Fund, while relative performance was mixed across the covered funds.
The report also discusses higher real yields, tight credit spreads and key questions around style exposure, diversification, interest-rate risk and credit risk.
For professional investors only.
Contact Camdor Global Advisors:
Emerson Chan
emerson@camdorglobaladvisors.com
Vittal Pathi
pathi@camdorglobaladvisors.com
Pension Scheme Bill Commentary
On 29 April the Pension Schemes Bill received Royal Assent and became law. It brings to a close a policy initiative which started in late 2024 with Chancellor Reeves’ first Mansion House speech.
The Pulse Newsletter April 2026: Pension UK Economic and Policy Developments – From Inflation Pressures to Energy Transition
The April pulse is here!
Brief updates on the macro environment, markets and key ESG developments are below:
Human Expertise vs AI
AI adoption is accelerating. Decision makers, researchers and policy professionals increasingly use AI-generated output to drive strategic assessments, policy advice and investment discussions. The question is no longer what AI can do, but how much we can trust it. AI adopters should be cautious and consider the risks regarding accuracy, credibility and reliability. While we acknowledge AI…
Local Authorities and the Autumn Budget
2025 Autumn Budget will provide few positives for local authorities
Government rethinks pensions and public services as fiscal pressures grow
On 21 July 2025, the UK Government made its first major announcement with the establishment of a new pensions commission that could reshape the country’s approach to retirement saving.
