McMaster University Pensions Plans The Investment Sub-Committee on the Board of Trustees of McMaster University pension plans is scheduled to meet to evaluate the performance of Investments the established benefit and contribution plans that are provided. Given the stipulations in the McMaster University Statement of Investment Policies (SIP), an opinion about the plan’s current investment manager must be provided. The process towards giving that opinion involves collecting any additional information regarding the existing plan investment manager i.e. ABR Investment Manager. The information received from the ABR Investment Management can be used to outline concerns, questions, and comments regarding current performance. However, the identification
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The plan’s current investment management firm has experienced an alarming rate of staff turnover in the past two years. The high level staff turnover could significantly impact the effectiveness of the company in relation to achieving its objectives and performance standards. For instance, the company has lost two junior research analysts and the Canadian equity team portfolio manager, Ross Webb. Mark Palabino, the US equity portfolio manager, became the acting Canadian equity portfolio manager for 9 months, which were characterized by negative equity results and returns below benchmark and fourth quartile returns. As the firm loses its experienced staffs, the remaining workforce is stretched beyond its limits, which affects its performance. Secondly, the firm’s performance is affected by the seeming inability of Rick Lam, the new Canadian equity team portfolio manager to replace the two junior researchers who left the company. Unlike his predecessor, Lam seems to have difficulties in finding replacements within a short period of time, which makes the current Canadian equity team burdened since it comprises one portfolio manager and four …show more content…
While the investment management firm has provided an investment report that shows plan performance up to the latest quarter, it has not provided the actual investment strategy since past reports as required by the university’s SIP document. In addition, information regarding the current and expected economic and investment conditions in the market will be requested. This information will be based on various terms that help in developing an investment strategy to be utilized in the coming period. These terms include change in minimum total return over a period of five years, change in asset mix within the previously mentioned constraints, and the degree with which the average term of fixed income securities should be lessened or increased. The other terms are changes in the measurements of equities in several categories of TSE 300 Index or any other relevant index and any proposed change in the Investment Policy ((McMaster University,
The plan’s current investment management firm has experienced an alarming rate of staff turnover in the past two years. The high level staff turnover could significantly impact the effectiveness of the company in relation to achieving its objectives and performance standards. For instance, the company has lost two junior research analysts and the Canadian equity team portfolio manager, Ross Webb. Mark Palabino, the US equity portfolio manager, became the acting Canadian equity portfolio manager for 9 months, which were characterized by negative equity results and returns below benchmark and fourth quartile returns. As the firm loses its experienced staffs, the remaining workforce is stretched beyond its limits, which affects its performance. Secondly, the firm’s performance is affected by the seeming inability of Rick Lam, the new Canadian equity team portfolio manager to replace the two junior researchers who left the company. Unlike his predecessor, Lam seems to have difficulties in finding replacements within a short period of time, which makes the current Canadian equity team burdened since it comprises one portfolio manager and four …show more content…
While the investment management firm has provided an investment report that shows plan performance up to the latest quarter, it has not provided the actual investment strategy since past reports as required by the university’s SIP document. In addition, information regarding the current and expected economic and investment conditions in the market will be requested. This information will be based on various terms that help in developing an investment strategy to be utilized in the coming period. These terms include change in minimum total return over a period of five years, change in asset mix within the previously mentioned constraints, and the degree with which the average term of fixed income securities should be lessened or increased. The other terms are changes in the measurements of equities in several categories of TSE 300 Index or any other relevant index and any proposed change in the Investment Policy ((McMaster University,