Investment Manager and Other Updates

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As the city filed it

This report provides the Toronto Investment Board with an update regarding activities involving the investment managers and related parties. It includes changes to the investment manager mandates, contracts, and funding along with other related items. Amended agreements for the Fiera Capital Common Contractual Fund were completed, signed, and delivered as outlined at the previous Board meeting. There were recent staff changes at the Oakmark and Pier 21 equity funds.

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These changes are summarized in this report along with Flash Reports from the investment consultant (Aon) in Attachments 1 and 2. The process to hire an Environmental, Social, and Governance data service provider is progressing. Legal agreements and other documentation for the service are currently in review. An update of the current funding status of Long-Term Fund and Sinking Fund is provided in Attachment 3 to this report for the Board's review. Moreover, $281 million of Sinking Fund contributions were transferred to the fixed income investment managers to re-balance the portfolio. The City's auditors (KPMG LLP) found no exceptions to note from the Investment Policy compliance audit procedures conducted for the year ended December 31, 2021.

Staff recommended

The Director, Capital Markets recommends that: 1. The Toronto Investment Board receive this report for information.

Investment Manager and Other Updates

The decision

As filed

On the agenda

As the city filed it

Staff recommended

On the record

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