Toronto Investment Board seeks to endorse a global equity strategy and approve manager search engagement

Citywide

The Toronto Investment Board considered a global equity manager search on September 25, 2026, but took no action on the item.

Closed doors

How to act

Find your councillor and write before the voteThis one affects the whole city
Read the item on the city record

The journey

Fri, Sep 25 · Toronto Investment Board · scheduled, not yet heard

Why is this story here?

ContainedThe board is making a portfolio decision about global equity strategy and manager selection, which is a genuine institutional choice within the board's mandate. It is bounded to this asset class and reversible if future boards disagree with the strategy or managers chosen. The decision does not reshape the institution or remove future options.Touches a narrow groupIf the strategy and managers are approved and in force, the effect is indirect: changes to global equity returns flow through pension fund performance, which may eventually affect benefit adequacy for plan members, but that chain is remote and takes years to manifest. Residents do not notice this week or this year.

Stories are ordered by how much weight a decision carries and how directly it reaches daily life. They rise as a decision date approaches and fall as they age.

The record as the City filed it

Staff recommended

The Director, Capital Markets and Treasury recommends that: 1. The Toronto Investment Board authorize the Chief Financial Officer and Treasurer to negotiate and enter into a non-competitive agreement with Aon, the Board's investment consultant, to undertake the Global Equity Manager Search, as set out in Confidential Attachment 2. 2. The Toronto Investment Board request the Director, Capital Markets and Treasury, in consultation with the Board's investment consultant, Aon, to proceed with the pre-screening, interviews and evaluation of the selected short list of Global Equity investment managers identified in Confidential Attachment 1, and report back to the Board with recommendations.

Show the rest of Staff recommended, 286 more characters as filed

3. The Toronto Investment Board direct that the confidential information contained in Confidential Attachments 1 and 2 remain confidential in their entirety, as they contain information that involves the security of property belonging to the City or one of its agencies or corporations.

Considered

2026-09-25 · Toronto Investment Board · not yet heard

Official title: Global Equity Manager Search · the item as the City filed it

More from this meeting

The whole meeting