Investment Sub-Committee (subcomittee of the Finance Committee)
The Board of Regents shall appoint an Investment Committee as a subcommittee of the Finance Committee in accordance with the following terms:
The Committee shall comprise:
- Two (2) Board members from the Finance Committee to be appointed by the Chair of the Board of Regents who shall designate one (1) member to be Chair and (1) member to be Vice-Chair.
- At least (2) members to be appointed by the Chair of the Board from the business community with investment knowledge and experience who shall agree to abide by the Board’s Conflict of Interest policy.
- One (1) member to be appointed by the Chair of the Board from C-CORE.
- The following ex-officio members:
a) The Chair of the Board of Regents;
b) The President and Vice-Chancellor;
c) The Vice-President (Administration and Finance);
d) The Director of Alumni Affairs and Development;
e) The Director of Financial and Administrative Services;
f) The Manager of Pensions and Benefits;
g) The Director of Finance and Administration, Student Affairs and Services; and,
h) The Manager of Financial Reporting, who shall serve as Secretary
The appointed members shall serve for two years.
Quorum shall be a majority provided at least one (1) is from A.1.
To recommend to the Finance Committee the most attractive investment options available for short-term and long-term investment of operating and trust funds in accordance with applicable sections of The Memorial University Act.
- To develop procedures and guidelines for the investing of available funds with the Office of the Director of Financial and Administrative Services being responsible for day-to-day management decisions relating to such investments.
- To select local investment dealers.
- To review various investment options presented by the investment dealers.
- To review the security and insurance coverage maintained for selected offers.
- To arrange for the orderly flow of investment deposits and terms so that each fund will meet its expenditure commitment.
- To ensure the proper maintenance and security of investment instruments.
- To establish and to review on a quarterly basis, appropriate reporting on investment performance.