Item - 2023.IB2.6
Tracking Status
- This item was considered by Toronto Investment Board on March 9, 2023 and was adopted without amendment.
IB2.6 - Investment Manager and Other Updates
- Decision Type:
- ACTION
- Status:
- Adopted
- Wards:
- All
Board Decision
The Toronto Investment Board received the report (February 20, 2023) from the Director, Capital Markets for information.
Origin
Summary
This report provides the Toronto Investment Board with an update regarding activities involving the investment managers and related parties. It includes changes to the investment manager mandates, contracts, and funding along with other related items.
There was a recent leadership change at the Feira Capital Corporation. These changes are summarized in this report along with the Flash Report from the investment consultant (Aon) in Attachment 1.
The process to hire an Environmental, Social, and Governance data service provider is progressing. Legal agreements and other documentation for the service are nearing completion.
An update of the current funding status of Long-Term Fund and Sinking Fund is provided in Attachment 2 to this report for the Board's review.
Background Information
https://www.toronto.ca/legdocs/mmis/2023/ib/bgrd/backgroundfile-234626.pdf
(February 3, 2023) Attachment 1 - Aon Flash Report - Fiera Capital CEO Change
https://www.toronto.ca/legdocs/mmis/2023/ib/bgrd/backgroundfile-234627.pdf
Attachment 2 - Current Funding Status of the Long Term Fund and the Sinking Fund
https://www.toronto.ca/legdocs/mmis/2023/ib/bgrd/backgroundfile-234628.pdf