Long-Term Capital Appreciation Pool PolicyNovember, 2000 To request an official copy of this policy, contact: The Office of the Governing Council Phone: 416-978-6576
All endowment funds must be invested in the Long-Term Capital Appreciation Pool (LTCAP) except those which by contract or agreement are precluded from being pooled for investment purposes. Other university funds may be invested in the LTCAP, such as i) a portion of expendable funds, and ii) the Supplementary Retirement Arrangement (SRA) fund and other funds of a similar nature at the discretion of the Chief Financial Officer. Non-university funds, where the University is a beneficiary or has some interest in or relationship with such funds, may be invested in the LTCAP. The pool will:
Special situations may arise which warrant a temporary exemption from the application of this policy. In such cases the Chief Financial Officer will determine if such exemption is to be allowed and will provide an annual report to the Business Board for information on such exemptions. Sheila Brown Approved: June 22, 2000 Regulations for the Long-Term Capital Appreciation PoolPolicy:These regulations are issued pursuant to the policy approved by the Business Board on November 20, 2000. Administrative ApprovalsThe annual payout from the pool of earnings will be determined, according to a prescribed formula, by the Chief Financial Officer expressed in dollars per unit. The underlying formula which serves as a basis for calculating the annual payout rate is determined by the Chief Financial Officer and approved by the President in accordance with the Policy on the Preservation of Capital of Endowment Funds. The Chief Financial Officer determines the administrative fees to be charged to participants in the LTCAP with approval of the President. Sheila Brown |