University Secretary's Department Standing Resolutions of Council

2.1.1 - Investment Management Committee

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The Investment Management is a sub-committee of the Finance Committee. The Committee exercises governance oversight of the University’s investment funds, supervises the selection and performance of fund managers and advisers appointed to give effect to the University’s investment objectives and generally exercises a stewardship role in relation to the management of investment funds.

I Membership

A Chairperson appointed by Finance Committee on the recommendation of the Chair, Finance Committee
The Senior Vice-Principal
Chief Financial Officer
A member of Council appointed by the Finance Committee
Up to four other members appointed by the Finance Committee, with financial management and/or investment expertise of whom at least two should be external to the University.
The Committee has the power to co-opt.

II Terms of Reference

The functions of the Investment Management Committee, after receiving advice through the Finance Committee on the investment objectives of the University, are -

  1. To make recommendations to Finance Committee with respect to asset allocation principles for the University’s investment portfolio and the investment policy;
  2. To review regularly the performance of the portfolio and fund managers, and report to Finance Committee quarterly on the performance of the portfolio;
  3. To report to Finance Committee annually on the overall performance of the fund managers and of the custodial administrator;
  4. To make recommendations to Finance Committee on the appointment of funds managers and of a custodial administrator, including the recommendation of any fees payable and other terms on which the appointments are made;
  5. To oversee the activities of University officers responsible for managing the ‘cash’ and ‘near cash’ investments of the University to assure those activities accord with the investment guidelines and related delegations specified by Council or Finance Committee;
  6. Monitor the risks attendant on these investments and the action being taken to manage those risks;
  7. Provide advice to Finance Committee on actions that might be taken to strengthen performance of the University’s investment portfolio.

III Delegations

  1. The Investment Management Committee is to determine guidelines within which funds may be placed with the Official Short Term Money Market, Bank Interest Bearing Term deposits, Bank Certificates of Deposit, Bank Accepted Bills of Exchange and like investments.
  2. In addition to the delegations held by the Committee, either the Vice-Chancellor, the Senior Vice-Principal, the Vice-Principal & Chief Financial Officer, Deputy Vice-Principal and Director of Financial Operations, the Deputy Director of Financial Operations or the Manager, Budgets and Planning is authorised to approve the placing or withdrawal of funds in Authorised Short-term Deposits, Official Short Term Money Market Loans, Bank Interest Bearing Term Deposits and Certificates of Deposit and Bank Accepted Bills of Exchange without limit as to the amount, within the guidelines determined by the Committee.
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