Memorial University is disclosing all direct investments (segregated public equities) and the names of pooled funds held in endowed, non-endowed and pension funds. This disclosure will happen annually.
Memorial holds investments in pension, endowed and non-endowed funds. The pension fund is funded by employee and employer contributions. Endowed and non-endowed funds are funded mostly by donations. Student tuition is not used to fund investments.
Annual disclosure of investments is an important way for Memorial to demonstrate its commitment to transparency.
In May, student protesters provided two lists of companies to Memorial and asked the university to review its invested assets.
This work is complete. Memorial can now confirm that as of May 31, 2024, less than one-third of one per cent (0.297%) of Memorial’s total portfolio is directly invested in companies on those lists.
Memorial’s investment disclosure is available here.
Additional context on investments at Memorial
- Memorial is a trustee and fiduciary, with a legal obligation to act in the best interest of beneficiaries of these funds. This means making decisions to guarantee a predictable and secure lifetime pension income for pension plan members. On endowments, this means ensuring an increasing level of endowment funds available for scholarships and bursaries for current and future students. These investments are critical to Memorial’s ability to carry out its mission.
- Student tuition is not used to fund investments in the pension fund, endowed or non-endowed fund.
- Memorial’s investments are managed by professional, external investment management companies. Investment management firms are signatories to the United Nations Principles of Responsible Investing.
- Memorial’s investments are primarily held in pooled funds. The university is not a direct investor in the stock of a particular company within the pooled fund. In some cases, the composition of those pooled funds is proprietary to that external investment manager.
- Some of the pension fund’s holdings are in the direct stock of individual companies. These funds are also managed by professional, external firms.
- The external investment firms may make adjustments to holdings (direct and pooled) on a daily basis.
- Memorial’s investments are guided by statements of investment policy and objectives.
- These statements include Environmental, Social and Governance (ESG) considerations. Social justice and human rights are embedded within ESG considerations.
- Interests of particular constituent groups, their individual beliefs and moral values do not inform investment policy decisions or investments.
- The Board of Regents is responsible for overseeing the university’s strategic approach to investing.
- Memorial’s largest investment fund is the pension fund. Its members – unionized and non-unionized faculty, staff and pensioners – have a say in how the fund is managed as part of the University Pensions Committee. This is a committee of the Board of Regents.
