Investment Notes

CFA Institute Verification

In April 2004, the first CFA Institute Verification was conducted. The CSSB engaged an independent accounting firm to audit its performance measurement practices, tools, methodologies, and rates of return. An unqualified opinion was issued then, and continues to this day, that the methodology used to calculate the Fund's rates of return is in accordance with the recommendations of the CFA Institute. This audit continues to be performed annually.

Pooled Fund Structure

In order to minimize investment management and other human resource costs, the CSSB has set up some pooled funds. Similar to a mutual fund, the CSSB and its participating clients purchase/sell units in these pools of investments. This type of activity allows the investment decision-makers to purchase/sell larger pools of securities opening the door to even better diversification and liquidity. Approximately 80% of the Fund is invested in pooled bonds as well as Canadian, U.S. and Non-North American Equities.

Investment Screens

Our investment decision-making may take into account social or environmental issues, however, the CSSB does not have the legal authority to select or exclude certain opportunities based solely on those or other (i.e. religion, politics or non-financial) criteria. Good governance practices have been established and are followed to ensure the integrity of the decision-making process, however, our fiduciary duty is to act in the best interests of all our members.

International Investing

In the 2005 Budget, the Federal Government removed the 30% Foreign Content Ceiling on investing outside of Canada. This allows us to invest more Fund monies outside of Canada in order to facilitate greater diversification and to take more advantage of opportunities in other global markets.

+ Larger Font | - Smaller Font