Item - 2020.IB9.3
Tracking Status
- This item was considered by Toronto Investment Board on October 7, 2020 and was adopted with amendments.
IB9.3 - Investment Manager Update
- Decision Type:
- ACTION
- Status:
- Amended
- Wards:
- All
Board Decision
The Toronto Investment Board requested the Director, Capital Markets to review the custodial agreement and report back with an update.
Origin
Summary
This report provides an update on the actions taken with regards to the selection of investment managers since the last meeting of the Toronto Investment Board (the "Board") on July 8, 2020. Negotiations to hire the final global equity manager are near completion.
A recent rebalancing of the Sinking Fund was completed using cash contributions received. The fund was rebalanced in accordance to the Investment Policy and the Investment Plan. Details of the rebalancing are provided in this report.
Provided in Attachment 1 to this report is the Current Funding Status of the Long-Term Fund (LTF) and the Sinking Fund (SF) as at September 15, 2020. This document shows the current asset allocation of the funds.
Background Information
https://www.toronto.ca/legdocs/mmis/2020/ib/bgrd/backgroundfile-156971.pdf
Motions
That the Toronto Investment Board request the Director, Capital Markets to review the custodial agreement and report back with an update at the next meeting of the Toronto Investment Board.