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Investment Advisory Committee

Terms of reference

Purpose

To advise the Executive Committee on the investment of the Endowment Fund to best achieve the objective of the fund, in a manner compatible with the mission and values of the CCR.

Responsibilities

The Investment Advisory Committee will:

  1. Monitor the management of the funds, including by reviewing monthly reports from the Investment Manager and meeting at a minimum once a year with the Investment Manager. At least in the first three years of the fund, the Investment Advisory Committee will meet with the Investment Manager at least 3 times a year. Meetings may be by conference call.
  2. Provide a quarterly report to the Executive Committee on the funds.
  3. Provide to the Executive Committee an annual report on the management of the funds. The annual report will include:
    • a recommendation either to maintain the existing investment plan or to make modifications to the investment plan.
    • a review of the performance of the investment manager.
  4. Monitor the application of the ethical guidelines and, where appropriate, recommend to the Executive Committee modifications to the ethical guidelines.
  5. Provide other advice to the Executive Committee on the investment of the fund, as requested by the Executive Committee or deemed relevant by the Investment Advisory Committee.

Membership

  1. The Treasurer will be an ex officio member of the Investment Advisory Committee.
  2. Up to three other members of the Executive Committee may be appointed by the Executive Committee during their term.
  3. Up to six other members may be appointed by the Executive Committee from the following:
    • Former Executive Committee members;
    • Individuals recommended by a CCR member organization who:
      • Have relevant experience or expertise;
      • Are committed to the  mission and values of the CCR.

Appointments by the Executive Committee will be for a two year term, renewable. The Executive Committee will ensure that at least 3 committee members have relevant financial or investment experience or expertise.

Chair

The Committee will be chaired by the Treasurer or by another member of the Committee appointed by the Executive Committee.

Approved by the Executive, 23 November 2011