Request for Investment and Hiring of a Second Fixed Income Manager

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

2020-07-27 · Board of Directors of the Toronto Atmospheric Fund · amended

As filed

The Board of Directors of the Toronto Atmospheric Fund: 1. Approved the investment, as set out in Confidential Attachment 1 to the report (July 15, 2020) from the Chief Executive Officer. 2. Requested that, via the City Manager's Office, the City of Toronto's Chief Financial Officer and Treasurer hire the Fixed Income Manager identified in Confidential Attachment 1 to the report (July 15, 2020) from the Chief Executive Officer on Toronto Atmospheric Fund (TAF)'s behalf, subject to negotiation of the details of the agreements and in coordination with TAF staff and TAF's Investment Advisor, HUB/Proteus Performance Management Inc.

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3. Authorized the public release of Confidential Attachment 1 to the report (July 15, 2020) from the Chief Executive Officer following the closing of the transaction.

On the agenda

As the city filed it

The Investment Committee is recommending hiring a second Fixed Income manager. The proposed investment is a credit-driven product and will complement the current Fixed Income TD Asset Management mandate and diversify Toronto Atmospheric Fund's Fixed Income portfolio.

Staff recommended

The Chief Executive Officer recommends that the Board of Directors of the Toronto Atmospheric Fund: 1. Approve the investment, as set out in Confidential Attachment 1. 2. Request that the City of Toronto's Chief Financial Officer and Treasurer hire the Fixed Income Manager identified in Confidential Attachment 1 on Toronto Atmospheric Fund (TAF)'s behalf, subject to negotiation of the details of the agreements and in coordination with TAF staff and TAF's Investment Advisor, HUB/Proteus Performance Management Inc.

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3. Authorize the public release of Confidential Attachment 1 following the closing of the transaction.

On the record

The item as the City filed it