The filed record
Direct Investment Risk Analysis Approach and Stress Test
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
2020-05-21 · Board of Directors of the Toronto Atmospheric Fund · adopted
As filed
The Board of Directors of the Toronto Atmospheric Fund: 1. Directed that the confidential information contained in Confidential Attachment 1 to the report (May 4, 2020) from the Vice President, Impact Investing remain confidential in its entirety, as it is about a plan to be applied to any negotiations carried on or to be carried on by or on behalf of the Board of Directors of the Toronto Atmospheric Fund.
On the agenda
As the city filed it
Toronto Atmospheric Fund (TAF) currently has twelve investments in its Direct Investment portfolio and two investments in Private (pooled) Equities, totalling approximately $8 million. TAF also operates two financing lines for ESPAs, totalling $8 million. An additional $8.8 million has been approved but not advanced for five Direct Investments and one Private (pooled) Equity Fund. Given the change in business circumstances due to the COVID-19 crisis, staff stress tested each of these using risk weighting matrix and identified reserve percentages for each risk category (Confidential Attachment 1).
Show the rest of As the city filed it, 524 more characters as filed
This will be improved as appropriate in consultation with the Investment Committee and used to continue monitoring the portfolio. There are no areas of immediate concern. Staff will update and present the analysis in advance of each quarterly Investment Committee meeting, and any negative change will be brought immediately to the attention of the Investment Committee (or Direct Investment Subcommittee once that is established). Any new investment proposed for approval will include analysis of the COVID-19 implications.
Staff recommended
The Vice President, Impact Investing, recommends that: 1. The Toronto Atmospheric Fund Board of Directors direct that the confidential information contained in Confidential Attachment 1 remain confidential in its entirety, as it is about a plan to be applied to any negotiations carried on or to be carried on by or on behalf of the Board of Directors of the Toronto Atmospheric Fund.
On the record
More from this meeting
- Ratification of the Calling of a Meeting of the Members of the Toronto Atmospheric Fund, May 21, 2020Filed record
- Draft Audited Consolidated Financial Statements for the Year Ended December 31, 2019Filed record
- Chief Executive Officer's ReportFiled record
- Risk RegisterFiled record
- Unaudited Financial Reports for the Fourth Quarter of 2019 and the First Quarter of 2020Filed record
- Minutes from the Investment Committee Meeting Held January 30, 2020Filed record