Minutes of meeting
Renfrewshire Council · 19 November 2025
Back to Investment Review Board — 19 November 2025 and its agenda
Text extracted from the council's PDF. Layout and reading order may differ from the original.
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Minute of Meeting Investment Review Board Date Time Venue Wednesday, 19 November 2025 11:00 Remotely via MS Teams, Present Councillor Jacqueline Cameron, Councillor Alison Ann-Dowling, Councillor Iain Nicolson, Councillor John Shaw. Chair Councillor Shaw, Convener, presided. In Attendance C McCourt, Head of Finance & Procurement, G Borland, Finance Manager, A Burns, Corporate Finance Manager, J Barron Committee Services Officer and D Cunningham, Licensing & Committee Services Officer (all Finance & Resources).
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Also in Attendance D Watson, Investment Consultant Hymans Robertson LLP, G Brisbane and J Ryan, LGT Wealth Management Limited, formerly abrdn Capital Limited. Recording of Meeting Prior to the commencement of the meeting, the Convener intimated that this meeting of this Board would be recorded and that the recording would be available to watch on the Council’s website. Declarations of Interest and Transparency Statements There were no declarations of interest or transparency statements intimated prior to the commencement of the meeting. 1 Minute of Meeting There was submitted the Minute of the meeting of the Investment Review Board held on 11 June 2025. DECIDED: That the Minute be approved. 2 Paisley and Renfrew Common Good Funds six-month report to 30 September 2025 There was submitted a report by the Director of Finance & Resources together with a presentation by D Watson from Hymans Robertson LLP, relative to the Paisley and Renfrew Common Good Funds, a review of investment income and the key issues relating to the Paisley and Renfrew Common Good Funds. G Brisbane, Senior Investment Manager and Charity Lead (Scotland) LGT Wealth Management Limited (formerly abrdn Capital Limited) also spoke to the presentation relative to the Paisley and Renfrew Common Good funds investments performance. The presentation referred to a review of the Investment Managers’ performance for the six months to 30 September 2025; an update of markets; and the current economic climate. DECIDED: That the report and presentation be noted.
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3 Review of Investment Policy Statement There was submitted a report by the Director of Finance & Resources relative to the scope and content of the proposed Investment Policy Statement. The Council had arranged for the investments of the Paisley and Renfrew Common Good Funds to be managed by LGT Wealth Management Limited and had agreed a number of principles governing decisions regarding those investments. These requirements were formalised in an Investment Policy Statement, which was reviewed annually to ensure that the principles remained appropriate to the Council's requirements. The Investment Policy Statement was last reviewed in November 2024. A copy of the Policy was appended to the report. DECIDED: That the Investment Policy Statement, a copy of which was attached to the report, be approved. 4 Date of Next Meeting DECIDED: That the next meeting of the Investment Review Board be held on 10 June 2025.