Who are we? • A local public foundation ▫ manage endowment funds contributed by donors in our community and make grants to local charities ▫ invest funds on behalf of local charities • Very efficient low-cost business model ▫ volunteer Board of Directors ▫ management agreement with CDC – fixed overhead costs
Our investment portfolio has grown
How do we manage our investments? • Primary investment advisor is Connor, Clark & Lunn, which manages over $75B in assets • 10% of portfolio invested in alternative assets • As of Sept 30 th , investment returns of: ▫ 7.2% over past year ▫ 8.6% over last 5 years ▫ 8.2% over last 10 years ▫ 5.8% since inception in 1999
Our current funds
How are we currently helping OSMHF? • Smart & Caring Community Fund ▫ Fall 2017 application resulted in grant of $2,140 ▫ $60,000 annually available on an application basis • OSMHF Designated Endowment Fund ▫ Set up in 2002 with a donation of $25,000 ▫ Current value of $33,500 ▫ Has granted $1,400-$1,800 annually over last 4 years • Donor Directed Funds ▫ Tudhope Fund – 24% of annual granting - $24,000 in 2018 ▫ John Galt Fund – 10% of annual granting - $1,500 in 2018
How else could we help OSMHF? • Investing your Endowment funds as a Managed Fund ▫ We raised the issue of investing your growing Endowment Fund balance differently with OSMHF in 2013 ▫ In 2014, we participated in the OSMHF tender process to select an investment manager for your Endowment Funds At the time we had $3 million in assets and were charging an admin fee on funds of 1.2%. Since then, we have grown substantially to $6 million in assets and our admin fee on managed funds is now 0.3% and falling. We currently invest $1.7 million for 6 local charities in Managed Funds If we added the OSMHF endowment funds to our portfolio we could lower our admin fee on all managed funds to 0.1% and would cross a portfolio size threshold with CC&L where our investment management fees drop by 0.2% ▫ We would be delighted to discuss this opportunity further
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