As the University of Toronto strives for excellence in teaching and research, we work to strengthen key financial pillars on which that vision is built – and to help provide a secure retirement for thousands of employees, past, present and future.
Vision
To be one of the world’s leading university investment managers.
Mission
To produce strong investment results over the long term, advancing the University of Toronto’s goals for its portfolios through skilled investment management, leadership in responsible investing and prudent risk management.
Our Approach
Since UTAM’s inception in 2000, we have provided professional investment management services to protect and grow the University of Toronto’s financial assets.
As we manage U of T’s Pension, Endowment and short-term working capital funds, we draw upon our proven processes and deep investment expertise. At the same time, we collaborate closely with U of T’s senior leadership, the expert advisors of the Investment Committee, our carefully selected investment managers and strategic partners, and other key stakeholders, benefiting from their insights and experience as we manage the university’s assets to achieve its risk and return objectives.
Responsible Investing
UTAM is committed to responsible investing, which we define as the incorporation of environmental, social and governance (ESG) factors into investment decision-making processes, active ownership – through proxy voting and engagement – and disclosure.
We pursue a responsible investing approach because we believe that material ESG factors can have a significant impact on investment returns. By integrating ESG considerations into our investment activities, we believe we can make better-informed decisions and ultimately achieve better outcomes for the portfolios we manage on behalf of the university.
Investments
The strategic asset allocation of the Pension and Endowment portfolios is represented by the benchmark Reference Portfolio, which has risk and return attributes consistent with the objectives of these portfolios.
The Reference Portfolio serves as the starting point for all of UTAM’s active investment decisions. As we implement our strategy, the Reference Portfolio provides us with an objective gauge for measuring the risk and value added of our investment activities.
The Reference Portfolio
Performance
We are focused on investing for the long term. Our most important performance objectives are to meet the university’s target rates of return and to add value to the portfolios by outperforming the benchmark Reference Portfolio while adhering to all constraints, including a formal risk budget.
Over the 10-year period ending in 2019, the Pension and Endowment portfolios each returned 8.5%. These returns exceeded the university’s target return of 5.8% and the benchmark Reference Portfolio return of 7.5%.
Reports
2019–2020 Responsible Investing Report:
Guiding Principles
Our 2019–2020 Responsible Investing Report includes a detailed account of how we weigh the potential impacts of environmental, social and governance (ESG) factors in our investment activities – including in our decision-making, active ownership, and reporting and disclosure – as we manage the University of Toronto’s Pension, Endowment and short-term working capital assets.
2019 Annual Report:
The 20 Year Advantage
Our 2019 Annual Report contains a detailed analysis of performance during the year and looks at how UTAM has applied the traditional four P’s – philosophy, people, process and performance – that are the hallmarks of successful investment managers.
News
EOS Report Highlights 2020 Engagement Activities
The 2020 Annual Review from EOS at Federated Hermes provides insights on the engagement activities it conducted last year on behalf of UTAM and other institutional investors. Active ownership,…
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