Cover of UTAM Annual Report 2023.

UTAM’s latest Annual Report

Our 2023 Integrated Annual Report combines a detailed review of investment performance with updates on our responsible investing approach. You can also download UTAM’s stand-alone 2023 Financial Statements, as well as access current and past investment and climate-related reports.

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Aerial view of paths on UTSC campus.

Our commitment to Responsible Investing

As we support the University of Toronto’s commitment to advancing sustainability, UTAM has assumed a leadership role in responsible investing among university asset managers. We consider environmental, social and governance (ESG) factors across all areas of investment and risk management.

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University of Toronto sign.

UTAM’s mission is 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.


In working to generate strong returns in the portfolios UTAM manages, we analyze and evaluate the factors that can affect investment outcomes over the long term. Our work is grounded in a deep commitment to responsible investing: we integrate ESG considerations into our investment decision-making, our practices as an active owner (via proxy voting and engagement) and our disclosure and reporting.

This integrated approach means we don’t treat responsible investing as a separate topic in UTAM’s reporting and communications. Our consideration of potential ESG impacts is woven through all sections of this website, notably Investing, Managing Risk and Stewardship.

A building with vegetation growing from the balconies.

Investment Impact

Advancing Environmental Science

The annual Beatrice and Arthur Minden Symposium on the Environment, hosted by the University of Toronto’s School of the Environment, welcomes the public to a series of multidisciplinary events showcasing current trends in environmental science and emerging issues that are shaping public policy, social justice and system change.

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Gyan and Kanchan Jain with UTM Vice-President and Principal Alexandra Gillespie. Thanks to a gift from the Jain family, UTM will establish an endowed chair dedicated to the study of Jainism.

Investment Impact

Expanding Cultural Understanding

In 2023, the University of Toronto Mississauga (UTM) received an endowed gift from Gyan and Kanchan Jain and their family to support the study of Jainism, the ancient religion that has had a profound impact on the history and culture of South Asia.

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UofT banners hanging outside.

As we manage the University’s Endowment and short-term working capital funds, we apply UTAM’s proven processes and wide-ranging investment expertise.


Since our founding in 2000, we’ve steadily evolved UTAM’s investment, risk management and operational processes, judiciously testing, learning and innovating as we strive for excellence. In managing U of T’s assets to achieve clearly defined risk and return objectives, we work closely with U of T’s senior leadership and the expert advisors of the University’s designated Investment Committee, as well as our carefully selected investment managers and strategic partners.

UTAM was created by a university for a university. Every investment decision we make is ultimately aimed at supporting the efforts of students, faculty and staff at U of T – Canada’s largest academic institution and a leading global centre of learning and research.


Performance

Detail of UofT building.

As we invest for the long term, UTAM strives to generate returns that exceed the University of Toronto ’s expectations and specified targets.

10-year returns

The Endowment portfolio has generated an annualized net return of 7.9% over the 10-year period ending December 31, 2023. This result has exceeded both the University’s target return of 6.6%, as well as the Reference Portfolio return of 6.6%. The Endowment’s outperformance compared to the Reference Portfolio over the same period represents a cumulative gain of more than $389 million.

The Expendable Funds Investment Pool (EFIP) portfolio has returned 1.9% over the same 10-year period, outperforming its target return, for a cumulative gain of more than $86.5 million.

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News

UTAM improves overall scores in 2024 PRI assessment

The recently released results of UTAM’s PRI assessment show our continued commitment to responsible investing, sustainability and transparency. Once again, in assessment topics applicable to UTAM, we…

UTAM signs 2024 Global Investor Statement to Governments on the Climate Crisis

Every year since 2017, UTAM has joined other investors in signing the Global Investor Statement to Governments on the Climate Crisis. The statement calls on governments to raise their climate…

An Enduring Commitment: UTAM’s 2023 Integrated Annual Report

UTAM is pleased to announce the release of our 2023 Integrated Annual Report. This report to stakeholders details the performance of the Endowment and short-term working capital pool investments…

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