New Products Committee

Regular Committee Meeting

Report

Meeting #:
Date:
-
Location:
AMO Office
155 University Avenue - Suite 800, Toronto, ON M5H 3B7
Members Present:
  • G. James, Committee Chair
  • B. Hughes, Committee Vice-Chair
  • J. Dowty
  • J. Giles
  • P. Judson
  • J. Pittini
Others Present:
  • J. Dezell, Co-President/Co-CEO, ONE Investment
  • D. Herridge, Co-President/Co-CEO, ONE Investment
  • J. Hagan, Program Manager, ONE Investment
  • J. Hess, Manager of Investments, MFOA
  • D. Kelly, Board Secretary
  • J. Song, Board Coordinator, ONE Investment
  • K. Taylor, Chief Investment Officer, ONE Investment

1.
Land Acknowledgement

 

Committee Chair James made the following statement on behalf of the Committee:

We recognize that our work as the ONE Joint Investment Board and the work of municipalities take place on traditional Indigenous territories across Ontario. We recognize and respect the history, languages, and cultures of the First Nations, Metis, Inuit and all Indigenous people whose presence continues to enrich our communities.

2.
Disclosures of Pecuniary Interest

 

There were no disclosure of pecuniary interest.

3.
Model Portfolios and Allocation Process (2024-003)

This item has attachments. 
1.OCIO Discussion - Model Portfolios and Allocation Process v4.pdf
2.03 Attachment 1 - OCIO Portfolios Modeling and Analysis.pdf

Keith Taylor, Chief Investment Officer, ONE Investment, made a presentation on the report on the Model Portfolio and Allocation Process.

Martin Leclair, CFA: Vice President and Institutional Portfolio Manager with support from  Dylan Rae, Portfolio Manager and Ivor Krol, President, Portfolio Manager and Team Lead from PH&N Investment Services, made a presentation on ONE Investment Portfolio Modeling.

  • Moved byCommittee Member Pittini

    THAT the Committee receive the presentations and adopt recommendation 1 in the staff report as follows:

    THAT ONE JIB:

    1. Rescind the Outcomes Framework Policy.
    Carried
  • Moved byCommittee Vice-Chair Hughes

    Committee Vice-Chair Hughes moved the following amendment to recommendation 2 in the staff report, together with three additional recommendations as follows:

    THAT ONE JIB:

    1. Approve the model portfolios comprised of PH&N Institutional funds to be used under the OCIO model as per table 1 in the staff report, but with the removal of model G+.
    2. Approve PH&N’s proposed constraints as shown on slide 6 of the ONE Investment Portfolio Modeling presentation, subject to a maximum 15% allocation to the total of high yield bonds, emerging market debt, and multi-asset global credit.
    3. Approve PH&N’s allocations and the use of risk/return metrics for the Modeled Portfolios with and without alternatives as shown on slides 8 and 10 of the ONE Investment Portfolio Modeling presentation.
    4. Approve the recommended Fund fulfillment as shown on slides 17 and 18 of the ONE Investment Portfolio Modeling presentation and in the Investment Management Agreement (IMA).
    Carried

4.
Other Business

 

There was no other business.

5.
Adjournment

 
  • Moved byCommittee Member Pittini

    THAT the committee adjourn the meeting.

    Carried

  • The meeting adjourned at 3:07 p.m.

No Item Selected