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←Toronto Investment Board · 2019-12-04 · 2019.IB5.6

The filed record

Real Assets Allocation Update

The Public Gallery wrote no story on this item. What follows is the city’s own record of what happened to it, as filed: nothing on this page is summarised or scored by us.

The decision

2019-12-04 · Toronto Investment Board · adopted

As filed

The Toronto Investment Board: 1. Requested that the Council-approved Investment Policy be amended to change the geographical scope of the both Real Estate and Infrastructure sub-categories to North American/Global Core (from Canadian Core and Global Core respectively).

On the agenda

As the city filed it

This report provides an update to the Toronto Investment Board ("Board") regarding the transition of the portfolio to the real assets category of the new asset mix established in the Council-approved Investment Policy (Attachment 1). Real assets will be included in both the Long Term Fund (LTF) and the Sinking Fund (SF). This category is comprised of two sub-categories: Real Estate and Infrastructure. Aon has provided a memorandum entitled "Real Assets Roadmap" as an attachment to this report (Attachment 2).

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This report also recommends that the Council-approved Investment Policy be amended to change the geographical scope of both Real Estate and Infrastructure investments to a "North American/Global Core" focus, from solely a "Canadian Core" and "Global Core" focus respectively.

Staff recommended

The Executive Director, Corporate Finance recommends that: 1. The Toronto Investment Board request the Council-approved Investment Policy be amended to change the geographical scope of the both Real Estate and Infrastructure sub-categories to North American/Global Core (from Canadian Core and Global Core respectively).

    On the record

    The item as the City filed it

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