6.1.7 Investment Policy

Section 6: Review and Assessment Functions
6.1 Finance
6.1.7 Investment Policy

Date initially approved: May 11, 2005
Date revised: May 13, 2009; February 8, 2012; November 28, 2012; May 3, 2017; April 14, 2025

1. Purpose

The Campion Board of Regents (Board) is responsible to ensure the College’s surplus, endowments and donation funds are invested prudently. The primary purposes of this policy are to document the investment approach and outline the responsibilities of the Board, its Finance and Audit Committee and College management to ensure that the funds are managed in a manner and within levels of risk acceptable to the Board.

2. Background

The Campion College Funds to which this investment policy applies are accumulated through a combination of annual operating surpluses, endowments and donations. These surplus funds are invested based on the investment policy of the Jesuits of Canada, with exceptions noted in this policy and/or approved by the Board of Regents.

3. Investment Statement Policy

There are two main aspects of the Campion College Investment Statement Policy that will be captured in this section: long-term endowed funds (3.1) and short-term operational investments (3.2)

3.1 Endowment Fund

Because of the modest size of the Campion Funds, the Investment Statement Policy (IPS) of the Jesuit Fathers also serves as the investment policy for endowed Campion Funds, with noted exceptions below. The policy is attached as Appendix A. Future changes to the Jesuit Fathers’ policy are automatically reflected in this policy.

The College may choose to exclude limitations outlined in section 4.3 of the Jesuit IPS, using its own discernment and review process. By extension, the College has purview to make investment decisions independent of the Jesuit IPS, if situations merit such actions.

Income/losses realized by the investment funds are smoothed, with an overall objective of paying an annual dividend of 5% of market value of the funds.

The foregoing percentages are subject to change based on market conditions, investment strategy, changes to the investment policy and other decisions made by the College and the Jesuit Fathers of Canada.

3.2 Non-Endowed Funds

Non-endowed funds, such as surplus funds from prior fiscal years, may be invested in order to obtain a higher rate of return for future planning and operational needs. These investments should be more conservative in nature to preserve initial capital investment and to offer steady growth for the future needs of the College. As well, any investment should be made to leverage the associations through the Jesuit Fathers in order to alleviate any additional fees given the lower investment threshold. The following asset mix guidelines are to be followed:

Bonds and fixed income       50-65%
Equities                                 25-35%
Cash                                     8-12%

3.3 Short Term Investments

Management is responsible to manage the College’s operational funds and to ensure prudent investment, if any, of surplus and unallocated funds to generate the highest rate of return through guaranteed investment vehicles.

4. Responsibilities of the Board of Regents

The key responsibilities of the Board of Regents are as follows:

1. To ensure surplus funds are invested per the approved policy.
2. To ensure management adheres to the investment policy.

5. Responsibilities of the Finance and Audit Committee

The key responsibilities of the Finance and Audit Committee are as follows:

1. Annually review the investment policy and recommend to the Board of Regents the appropriateness of the existing asset mix of the investments.
2. Semi-annually review management’s report on compliance of the investment manager with respect to the investment policy.
3. Annually assess the performance of the investment managers. The assessment will be based on the rates of return achieved by the investment managers’ relative to the rates of return achieved by comparable managers.

6. Responsibilities of Management

The key responsibilities of the College’s management are as follows:

1. Transfer surplus funds to the investment managers in a timely and prudent manner.
2. Quarterly receive and review the investment managers’ reports and obtain evidence to ensure they are in compliance with the College’s approved asset allocation mix.
3. Semi-annually report to the Finance/Audit Committee on the investment managers’ compliance with the investment policy.
4. Monthly update the College’s accounts to reflect the current market value of investments.
5. Annually report to the Finance/Audit Committee on the performance of the investment managers.