Fonds uofc-1443 - Investment committee series

The Board of Governors approved the establishment of an Investment Committee in October 1976 as a sub-committee of the Business and Finance Committee. The objective of the Investment committee was to establish overall policy guidelines for the investment of all funds under the control of the University of Calgary that are available for temporary or permanent investment. The terms of reference approved October 1976 were: a) The Investment Committee shall be responsible for establishing policy guidelines with regard to all investments held by the university. These guidelines will be reviewed a minimum of four times in each year and will establish what proportion of investments will be held in the following categories: equities; corporate bonds; federal, provincial or municipal government bonds; mortgages, term deposits with a chartered bank or trust company; and cash; b) The committee will review the portfolio of investments held and make suggestions and recommendations thereon to the Vice-President (Finance); c) Upon request, the Investment Committee or its individual members will assist and advise the Vice-President (Finance) or his delegate on any individual investment held or contemplated; and d) The Investment Committee is empowered to authorize the Vice-President (Finance) to hire on behalf of the university any agent, broker, attorney, accountant, investment counsel or other assistance deemed by it to be necessary or proper in the discharge of its responsibilities. Fees, expenses and charges in connection therewith are considered to be a proper charge against the income generated from the investments held. Subsequent committee re-organizations led to the Investment Committee becoming a sub-committee of the Finance Committee (1982-1986), the Operations and Finance Committee (1986-1992), and the Planning and Finance Committee (1992- ).