Members(as of听 July 1, 2024) |
End of Term |
| Ms. Maryse Bertrand, Chair, Board of Governors, ex officio | 听 |
| Prof. Deep Saini, President and Vice-Chancellor, ex officio | 听 |
| Mr. Don Lewtas,听Chair | [06/30/2027] |
| Mr. Greg David | [06/30/2026] |
| Mr. Martin Laguerre | [06/30/2027] |
| Ms. Anik Lanthier, Vice-Chair | [06/30/2025] |
| Mr. Frederic Martel | [06/30/2027] |
| Mr. Warren C. Smith | [06/30/2025] |
| Mr. Mark Taborsky | [06/30/2026] |
Senior Steward
Professor Fabrice Labeau,听 Vice-President (Administration and Finance)
Special Advisor
Mr. Marc Weinstein, Vice-President (University Advancement)
Meeting Schedule
Terms of Reference of Investment Committee
Enacting provisions
The Investment Committee (鈥淐ommittee鈥�) is established under the authority of, and is accountable to, the Board of Governors (the 鈥淏oard鈥�) of 成人VR视频 (the 鈥淯niversity鈥�). It shall function as stipulated in these terms of reference and in the Regulations of the Committees of the Board of Governors of 成人VR视频 (the 鈥淩egulations鈥�). In accordance with the Regulations, meetings of Board Committees shall be held in closed session unless the Committee resolves to carry out a meeting or part of a meeting in open session.听
1. Composition
a. Other than ex-officio members, appointments to the Committee are approved by the Board, normally on the recommendation of the Nominating, Governance and Ethics Committee.
b.听The Committee members are appointed on the basis of their expertise and interest in investment, business and economics.
c.听 A majority of members of the Committee must have a significant degree of investment expertise.
d. The Committee shall consist of five to eight members, exclusive of ex officio members, selected, as indicated below, from among the following membership categories:
听 听 听 听 听 听 听 听-听 听Members of the general public (at least two);
听 听 听 听 听 听 听 听-听 听At-Large members of the Board (at least one);
听 听 听 听 听 听 听 听-听 听Alumni Association members of the Board;
听 听 听 听 听 听 听 听 -听 Governors Emeriti.
e. The Chair of the Board and the President shall serve as ex officio members of the Committee.
f. The Chair of the Committee shall be appointed by the Board, normally on the recommendation of the Nominating, Governance and Ethics Committee.
g. The Committee may recommend the appointment of a Vice-Chair of the Committee, who shall be appointed by the Board on the recommendation of the Nominating, Governance and Ethics Committee.
h.听The Vice-President (Administration and Finance) shall serve as the Senior Steward to the Committee.
i. The Vice-President (University Advancement) shall serve as special advisor to the Committee.
j. The Secretary-General or delegate shall serve as Secretary and governance advisor to the Committee.听
k.听Where necessary or appropriate to facilitate and support the business of the Committee, the Senior Steward or Secretary may invite University staff to serve as resource persons for particular items of business.
2.听Mandate of the Committee
The Committee, subject to the Policy on the Approval of Contracts and Designation of Signing Authority, assists the Board in fulfilling its governance responsibilities with respect to the University鈥檚 investments.
Investments include all funds (whether endowed or non-endowed, externally or internally restricted) invested in accordance with University policy or as may be designated for Investment Committee oversight from time to time, exclusive of University pension plan funds.
Endowed funds are primarily invested through the 成人VR视频 Investment Pool (鈥淢IP鈥�) and are composed of: (i) bequests and donations received by the University, for the most part externally restricted, and generally to be held in perpetuity (ii) those assets of entities affiliated to 成人VR视频 which have been invested in the MIP as an investment vehicle (iii) such other assets as may be designated by the Board to be endowed or invested.
The Committee has established a Subcommittee to assist and advise the Committee in fulfilling its governance responsibilities with respect to investment matters. The Investment Subcommittee鈥檚 terms of reference are attached as Appendix A.
The Committee may consider other matters delegated to it by the Board, the President or the Vice-President (Administration and Finance).
Without limiting the generality of the foregoing, the Committee shall have functions delegated by the Board and functions subject to the authority of the Board, as follows:
听听听听听 2.1 Functions delegated by the Board of Governors听 听
a.听听 approve the appointment and termination of investment managers and advisors;
b.听听 review and approve investment manager mandates;
c.听听 approve the appointment and termination of the University's investment custodians and other providers of investment related services, or delegate such approval as appropriate;
d.听听 review, on a quarterly basis, all matters related to the investment of the MIP and other investments;
e. 听 review, at least annually, the Statement of Investment Policy, and monitor compliance with this Policy;
f.听听听 review, at least annually, the performance of each fund manager and providers of investment-related services;
g.听听 implement investment matters as provided for in the Statement of Investment Policy, including but not limited to currency hedging and portfolio rebalancing;
h.听 monitor, as required, staff's compliance with guidelines and processes for the selection of investment managers, including compliance with the University鈥檚 conflict of interest policies;
i.听听听 approve the management fee on the MIP and any modifications thereto;
2.2 Functions subject to the authority of the Board of Governors
a.听听听听听听 recommend to the Board the approval of all investment policies, including the Statement of Investment Policy, and any modifications thereto;
b.听听听听听 recommend the approval of the annual distribution rate for the income from the University鈥檚 endowment; 听
3. General provisions
a.听听听听听听 The Committee shall meet at least four times during the year.听 The Committee shall have a calendar of business, maintained by the Secretary-General or delegate, for the purpose of ensuring that each meeting agenda addresses responsibilities as outlined in these terms of reference.
b.听听听听听 The Committee shall report to the Board on a regular basis, and within a reasonable time following each Committee meeting.
c.听听听听听听 The Committee shall review its terms of reference at least once every five years and recommend any changes to the Board鈥檚 Nominating, Governance and Ethics Committee.
Last revised:
Executive Committee: March 26, 2020
Previous amendments:
Executive Committee: September 24, 2007
Executive Committee: January 25, 2010
Board of Governors: September 27, 2012
Executive Committee: November 27, 2012
Board of Governors: April 21, 2016
听
Terms of Reference of the Investment Subcommittee
听