Performance Reports to U of T’s Business Board

Cover of UTAM Semi annual Update on Investment Performance to June 30, 2019
2019 Mid-Year Update

Performance from January 1, 2019 to June 30, 2019

On October 6, 2019, UTAM presented its semi-annual update on investment performance to the University of Toronto’s Business Board. Daren Smith, UTAM’s President and Chief Investment Officer, reported that the Pension and Endowment portfolios managed by UTAM gained 7.8% and 7.7%, respectively, net of all investment-related fees and expenses during the first six months of 2019. These returns were 4.7% higher than the university’s target return of 3.1% (inflation + 4% per year) for Pension and 4.6% higher for Endowment but were below the benchmark Reference Portfolio return by 2.4% in Pension and 2.5% in Endowment.

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UTAM reports to the university’s Business Board regarding the investment management and performance of all portfolios managed by UTAM: Pension, Endowment and the short-term working capital fund (EFIP).