Investment Committee Terms of Reference

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The decision

2020-05-21 · Board of Directors of the Toronto Atmospheric Fund · amended

As filed

The Board of Directors of Toronto Atmospheric Fund: 1. Approved the Investment Committee Terms of Reference, as amended and set out in Attachment 1 to the report (May 5, 2020) from the Chief Executive Officer; subject to City Council approval of the delegation of authority for the Investment Committee to approve certain Direct Investments. 2. Directed the Chief Executive Officer, to work with the City Manager's office,

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to arrange for the Terms of Reference to be submitted to City Council for approval, together with the proposed revisions to the Statement of Investment Objectives and Principles (SIOP).

On the agenda

As the city filed it

This report recommends amendment of the Terms of Reference for TAF's Investment Committee. In addition to some housekeeping, a new Direct Investment Subcommittee is proposed for the purpose of providing the specialized and responsive guidance needed to significantly increase the Direct Investments portfolio as TAF's endowment is increased and in keeping with the Target Portfolio recommended by the Investment Committee.

Staff recommended

The Chief Executive Officer recommends that: 1. The Board of Directors of Toronto Atmospheric Fund approve the Investment Committee Terms of Reference, as amended.

On the record

The item as the City filed it