|Members (as of July , 2018)||End of Term|
Mr. Joel Raby, Chair, ex-officio
Professor Yves Beauchamp, Vice-Principal (Administration and Finance)
Ms. Sophie Leblanc, Chief Investment Officer
TERMS OF REFERENCE
In accordance with section 39 of the Regulations of the Committees of the Board of Governors of McGill University (the “Regulations”), the Investment Committee (“Committee”) may establish a Subcommittee of the Investment Committee (“Subcommittee”).
a. The Subcommittee shall be composed as follows:
- the Chair of the Committee;
- a member of the Investment Committee, selected by the Committee;
- the Senior Steward of the Committee; and
- the Chief Investment Officer (resource person).
2. Mandate of the Committee
The Subcommittee shall operate within the parameters established by the Statement of Investment Policy.
The Subcommittee shall have the authority to act on behalf of the Investment Committee between regular meetings of the Committee.
2.1 Without limiting the generality of the foregoing, the Subcommittee may:
a. meet on the call of the Chair;
b. consider and take action on any matter or Investment Committee decision as authorized by the Committee;
c. initiate, on behalf of the Investment Committee, decisions and/or actions as may, in the opinion of the Subcommittee, be necessary to ensure compliance with the Statement of Investment Policy.
d. initiate, on behalf of the Investment Committee, adjustments to the ongoing management of endowment assets as may, in the opinion of the Subcommittee, be required on an urgent basis to enhance investment performance or to protect the endowment assets, subject to maintaining overall Investment Committee policy direction, and provided that normally such adjustments will not exceed 2% of the value of the MIP assets; (such adjustments may include revisions to the mandate of an external fund manager, and minor changes in bond duration, quality mix, asset class rebalancing and sub-asset class transfer)
e. request a special meeting or electronic vote of the Investment Committee to deal with any matter.
2.2 The Subcommittee shall report to each regular meeting of Investment Committee on all matters with which it has dealt since the previous regular meeting of the Investment Committee.
Investment Committee June 12, 2014