Item - 2021.IB12.5

Tracking Status

This item was considered by Toronto Investment Board on June 2, 2021 and was adopted with amendments.

IB12.5 - Real Assets Update

Decision Type:: ACTION

Status:: Amended

Wards:: All

Board Decision

The Toronto Investment Board request the Investment Consultant, in consultation with relevant City staff, to proceed with a manager search and evaluation for the Real Estate asset class within the guidelines of the Council-approved Investment Policy and report to the next meeting of the Toronto Investment Board.

Origin

(May 14, 2021) Report from the Director, Capital Markets

Summary

The purpose of this report is to update the Toronto Investment Board on the progress to date regarding the search for external investment managers and current market conditions in the Real Assets category.

Background Information

(May 14, 2021) Report from the Director, Capital Markets on Real Assets Update
https://www.toronto.ca/legdocs/mmis/2021/ib/bgrd/backgroundfile-167008.pdf
Attachment 1 - Real Estate Update First Quarter 2021 (Aon)
https://www.toronto.ca/legdocs/mmis/2021/ib/bgrd/backgroundfile-167009.pdf

Motions

Motion to Amend Item moved by Pamela Steer (Carried)

That:

1. The Toronto Investment Board request the Investment Consultant, in consultation with relevant City staff, to proceed with a manager search and evaluation for the Real Estate asset class within the guidelines of the Council-approved Investment Policy and report to the next meeting of the Toronto Investment Board.