Item - 2023.IB2.5

Tracking Status

This item was considered by Toronto Investment Board on March 9, 2023 and was adopted with amendments.

IB2.5 - Investment Consultant for the Toronto Investment Board - Update

Decision Type:: ACTION

Status:: Amended

Wards:: All

Board Decision

The Toronto Investment Board:

1. Adopted the Investment Consultant Survey, and requested it to be distributed to each member on an annual basis starting in the first quarter of 2024 as described in Attachment 1 to the report (February 22, 2023) from the Director, Capital Markets.

2. Requested the Director, Capital Markets to collect, summarize, and report the results of the survey to the Board in confidence, when the results are received.

Origin

(February 22, 2023) Report from the Director, Capital Markets

Summary

This report summarizes the award process and successful completion of the Request for Proposal for Investment Consultant for the Toronto Investment Board.

The name of the successful proponent can now be released as per the Toronto Investment Board's decision at its meeting on December 16, 2022.

As a way to assess the Investment Consultant's performance, it is recommended that the Toronto Investment Board adopt the Investment Consultant Survey contained in Attachment 1 of this report. Each individual Toronto Investment Board member will be asked to complete the Investment Consultant Survey on an annual and confidential basis. The Investment Consultant Survey will be collected, summarized and reported back to the Toronto Investment Board by the Director, Capital Markets.

Background Information

(February 22, 2023) Report from the Director, Capital Markets on Investment Consultant for the Toronto Investment Board - Update
https://www.toronto.ca/legdocs/mmis/2023/ib/bgrd/backgroundfile-234642.pdf
Attachment 1 - Investment Consultant Survey
https://www.toronto.ca/legdocs/mmis/2023/ib/bgrd/backgroundfile-234643.pdf

Motions

Motion to Amend Item moved by Heather Taylor (Carried)

That:

1. The Toronto Investment Board adopt the Investment Consultant Survey, and request it to be distributed to each member on an annual basis starting in the first quarter of 2024 as described in Attachment 1 to this report.

2. The Toronto Investment Board request the Director, Capital Markets to collect, summarize, and report the results of the survey to the Board in confidence, when the results are received.