Item - 2020.IB10.2

Tracking Status

This item was considered by Toronto Investment Board on December 7, 2020 and was adopted with amendments.

IB10.2 - Sinking Fund and Long Term Fund - Performance and Compliance Update for the Third Quarter of 2020

Decision Type:: ACTION

Status:: Amended

Wards:: All

Board Decision

The Toronto Investment Board requested the Investment Consultant, in consultation with relevant City staff, to review the risk and return profile of the asset mix in light of the events of 2020 relating to COVID-19 and to provide an update to the next meeting of the Toronto Investment Board.

Origin

(November 12, 2020) Report from the Director, Capital Markets

Summary

As required by the City's Investment Policy, the purpose of this report is to provide the Toronto Investment Board with the following:

1. The performance of the Sinking Fund and Long Term Fund for the third quarter of 2020; and

2. Investment Policy and Plan Compliance certificates and reports for the third quarter of 2020.

Background Information

(November 12, 2020) Report from the Director, Capital Markets on Sinking Fund and Long Term Fund - Performance and Compliance Update for the Third Quarter of 2020
https://www.toronto.ca/legdocs/mmis/2020/ib/bgrd/backgroundfile-158738.pdf
Attachment 1 - Toronto Investment Board - Discussion Guide Q3 2020 (Aon)
https://www.toronto.ca/legdocs/mmis/2020/ib/bgrd/backgroundfile-158739.pdf
Attachment 2 - Performance Review and Investment (Aon) - September 30, 2020
https://www.toronto.ca/legdocs/mmis/2020/ib/bgrd/backgroundfile-158740.pdf
Attachment 3 - Compliance Certificates and Reports (July 2020 - September 2020)
https://www.toronto.ca/legdocs/mmis/2020/ib/bgrd/backgroundfile-158741.pdf
Attachment 4 - Flow of Funds - Sinking Funds
https://www.toronto.ca/legdocs/mmis/2020/ib/bgrd/backgroundfile-158742.pdf

Motions

Motion to Adopt Item moved by Sharon Ranson (Carried)

Motion to Reconsider Item moved by John Crocker (Carried)

That in accordance with the provisions of the Toronto Investment Board procedural by-law, the Toronto Investment Board reconsider Item IB10.2.

Motion to Adopt Item as Amended moved by Sharon Ranson (Carried)

That the Toronto Investment Board:

1. Request the Investment Consultant, in consultation with relevant City staff, to review the risk and return profile of the asset mix in light of the events of 2020 relating to COVID-19 and provide an update to the next meeting of the Toronto Investment Board.