Using the Reference Portfolio as the starting point for the Endowment portfolio and the return targets set for EFIP, we typically implement our strategy by allocating capital to third-party investment managers that we believe are best in class for their respective areas.

Asset Mix

The Reference Portfolio is the primary driver of the asset mix for the Endowment portfolio. Follow the link below to view the asset class weights for the Endowment and the Reference Portfolio as of December 31, 2021.

While there is no Reference Portfolio for the Expendable Funds Investment Pool (EFIP), the University has set a target return for EFIP based on a combination of a Short-Term Portfolio and a Medium-Term Portfolio.

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Investment Manager Relationships

We view manager selection as a core competency. Our ability to identify, diligence and allocate capital to best in class third party investment managers has been and will continue to be the primary driver of the Endowment’s performance relative to the Reference Portfolio.

Follow the link below to view the external investment managers engaged by UTAM with more than CAD $1 million invested in aggregate on behalf of UTAM’s client portfolios.

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We are focused on investing for the long term. Our most important performance objectives are (1) to meet or exceed the University’s long-term target rates of return and (2) to add value to the Endowment portfolio by outperforming the benchmark Reference Portfolio, while adhering to all constraints, including a formal risk budget.

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