Investment Committee

Membership 2016-2017

Randy Williamson, Chair
Elisa Alloul
Guy Burry
Andy Lennox
Dan O'Hara
Tim Price
Jane Rowe
Mamdouh Shoukri, President
Rick Waugh, Chair of the Board
Cheryl Underhill, Secretary

Terms of Reference

The Investment Committee is a Standing Committee of the Board of Governors that provides advice and oversight to the Board and the University regarding investment responsibilities for all invested funds, including both endowed and non-endowed assets, with the exception of the Pension Fund and Student Investment Fund.  In that regard, the Investment Committee shall:

  1. Review periodically the University’s investment policies and procedures and recommend revisions for approval by the Board, considering the investment-related risks and returns and respective investing time horizons, as appropriate, for endowed assets and non-endowed assets. For the Endowment Fund, the Statement of Investment Policy and Procedures (SIP&P) will be reviewed at least annually;
  2. Receive and consider recommendations from the University’s Advisory Committee on Responsible Investment brought forward by the Vice-President Finance and Administration;
  3. Consider and approve asset allocation and investment classes in accordance with the SIP&P and other University investment policies and procedures;
  4. Oversee the University’s investment of endowed and non-endowed assets;
  5. Appoint, monitor the performance of, and take actions as appropriate regarding, external asset managers;
  6. Monitor the investment performance of the funds, review the annual distribution from the endowment funds, and report to the Board and inform the Finance and Audit Committee of relevant issues;
  7. Establish the distribution rate for endowments and coordinate with the Finance & Audit Committee when any deviation from the applicable policy occurs; and
  8. Undertake such other matters as requested or delegated by the Board from time to time.

Membership

Consistent with its mandate, the majority of Investment Committee members should be individuals with proven expertise in investment concepts and activities applicable to public sector organizations. In addition to the commitment expected of all Board committee members, Investment Committee members should:

  • be or become knowledgeable about the University’s investment objectives for its funds, and
  • exercise the skills, diligence and degree of care expected of those responsible for a public sector organization’s investment funds.

Approved by Board of Governors, May 25, 1998
Revised and Approved by the Board of Governors, June 28, 2016