Item - 2025.IB14.2

Tracking Status

This item was considered by Toronto Investment Board on December 12, 2025 and was adopted without amendment.

IB14.2 - Sinking Fund and Long Term Fund - Performance and Compliance Update for the Third Quarter 2025

Decision Type:: ACTION

Status:: Adopted

Wards:: All

Board Decision

The Toronto Investment Board:

1. Received the report (November 22, 2025) from the Director, Capital Markets for information.

Decision Advice and Other Information

Randy LeClair, Director, Capital Markets gave a verbal update on Sinking Fund and Long Term Fund - Performance and Compliance Update for the Third Quarter 2025.

Fauzia Babar and Brian White gave a presentation on behalf of Aon Consulting.

Origin

(November 22, 2025) 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 (Board) with the following:

1. The Sinking Fund and Long Term Fund performance for the third quarter of 2025.

2. Investment Policy and Plan Compliance check for the third quarter of 2025.

Background Information

(November 22, 2025) Report and from the Director, Capital Markets on Sinking Fund and Long Term Fund - Performance and Compliance Update for the Third Quarter 2025
https://www.toronto.ca/legdocs/mmis/2025/ib/bgrd/backgroundfile-260747.pdf
Attachment 1A - Toronto Investment Board - Discussion Guide (Aon) - Q3 2025
https://www.toronto.ca/legdocs/mmis/2025/ib/bgrd/backgroundfile-260748.pdf
Attachment 1B -Toronto Investment Board - Performance Monitoring Report (Aon) - Q3 2025
https://www.toronto.ca/legdocs/mmis/2025/ib/bgrd/backgroundfile-260749.pdf
Attachment 2 - Historical Funding to Investment Managers (Contributions Withdrawals)
https://www.toronto.ca/legdocs/mmis/2025/ib/bgrd/backgroundfile-260750.pdf
Attachment 3 - Flow of Funds (Sinking Fund)
https://www.toronto.ca/legdocs/mmis/2025/ib/bgrd/backgroundfile-260751.pdf
Attachment 4 - City of Toronto Statement of Investment Policy and Procedures
https://www.toronto.ca/legdocs/mmis/2025/ib/bgrd/backgroundfile-260752.pdf

Motions

Motion to Adopt Item moved by Mary Chang (Carried)