Governance

Overview

The One Investment Program is a pooled investment program designed specifically for the public sector, with a primary focus toward Ontario municipalities. Established in 1993, the program is jointly operated by LAS (a subsidiary of the Association of Municipalities of Ontario) and CHUMS (a subsidiary of the Municipal Finance Officers’ Association of Ontario).

Oversight of the One Investment Program is provided by One’s Advisory Committee. Both LAS and MFOA/CHUMS each select 3 municipal representatives to sit on this Advisory Committee. Senior Staff from both MFOA/CHUMS and LAS also sit on the committee. Committee support is provided from other MFOA/CHUMS and LAS staff, our portfolio managers, and our independent third party investment consultant.

Current members of The One Investment Program Advisory Committee:

• Edward Hankins, Regional Municipality of York
• Stephen Cairns, District Municipality of Muskoka
• Vince Grillo, City of Windsor
• Gerry Mahoney, City of Ottawa
• Ken Nix, Town of Whitby
• Marc J. Pourvahidi, Town of Whitchurch-Stouffville
• Daniel Cowin, MFOA/CHUMS
• Nancy Plumridge, AMO/LAS

Staff and Consultant Resources to the Committee:

• Rodgers Investment Consulting
• Tom Bradbury, MFOA/CHUMS
• Jason Hagan, LAS/AMO
• Martin Benson, MFOA

 
Program Operating Structure:

The One Investment Program is jointly operated by LAS and CHUMS as outlined above.  Program oversight is provided by the LAS and MFOA/CHUMS Board of Directors as well as by the One Advisory Committee.  These groups are all comprised of Ontario municipal officials with a range of backgrounds and expertise. 

Executive management of the program and day-to-day operations are managed by CHUMS and LAS staff, but the services of a professional 3rd party investment consultant are regularly utilized.

To ensure that One offers all investors professional and worthwhile investment portfolios, we utilize the professional investment management services of McLean Budden and Guardian Capital LP.  These firms were both chosen through a comprehensive review process.  The performance of these organizations is regularly reviewed by the Advisory Committee and our independent investment consultant. Our investment managers both work with our custodian/record keeper (CIBC Mellon) to keep all investor holdings current, and our website administrator liaises with the custodian/record keeper on a daily basis to ensure that all investor account information is kept current on our secure member website.