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Funds managed by the Foundation are invested based on the requirements for preservation of capital, liquidity, and yield – in that order. The primary investment objective of the Fund is to generate a total return, on average, at least equal to the annual rate of increase in the Consumer Price Index plus 3.0%, after deduction of investment management expenses.
The Foundation`s assets are pooled and are professionally managed by Russel Investments, a global investment firm with $100 billion CAD in outsourced assets under management. The current policy of the Foundation is to have 50% of the assets in fixed income, and 50% in equities.
The Investment Committee reviews the Foundation`s payout policy of bi-annually to ensure consistency with overall Foundation investment objectives and prudent and responsible investment practices.
Investment Policy Statement
The Foundation’s investment policy statement outlines the goals and objectives for managing Foundation assets. It catalogs our existing policies and procedures, provides guidance for the future, and outlines the planned asset allocation mix to achieve the Foundation’s objectives. The Investment Committee meets quarterly with the fund manager to ensure the investments are being managed in a prudent and responsible manner. Read our current investment policy statement.
To ensure a stable source of funding for charitable organizations that depend on endowment funding, distributions are not tied to the performance of a fund; 3.5% of the average value of a fund’s assets over the preceding 12 quarters is distributed in a given year. Excess income is added to capital to maintain the purchasing power of the fund over time. The Investment Committee reviews the Payout Policy every two years to ensure it is in line with the performance of the fund. Read our current payout policy.