82. The Investment Pool Committee shall be a subcommittee of the Planning and Resources Committee and shall consist of
a) not fewer than six (6) members, as follows: (1) at least two (2) current members of the Board, appointed by the Board; (2) two (2) members with investment expertise appointed by the Planning and Resources Committee; (3) the Associate Vice-President & Chief Financial Officer; and (4) the Treasurer. b) the President and Vice-President (Operations and Finance) shall be ex officio members but shall have no vote; and c) the Chair shall be designated by the Board of Governors from the Board appointed members on the Committee.
83. Four (4) members of the Committee shall constitute a quorum.
84. Appointments shall become effective on July 1, and members shall hold office for a period of one (1) year. Members shall be eligible for re-appointment.
85. All meetings of this Committee are in Closed Session.
86. The overall objective of the Investment Pool Committee is to bring advice and knowledge to the effective management of the investments included in the University’s Investment Pool, consistent with the approved fund objectives.
87. Within this context, the Committee shall: a) review investment policies, objectives, strategies and make recommendations to the Planning and Resources Committee; b) make recommendations to the Planning and Resources Committee concerning the engagement and termination of investment managers and consultants; c) review and approve mandates and investment objectives given to individual investment managers; d) meet quarterly to monitor investment performance of the total Fund and of individual managers; e) meet regularly with external investment managers; f) monitor operating expenses such as fees paid to external fund managers, consultants, fund measurement services and custodians; g) monitor rebalancing of funds among the investment managers and exposure to non-Canadian currencies; and h) provide semi-annual performance reports to the Planning and Resources Committee.