Management of Endowment Funds

The board of directors of the Ontario Arts Foundation is responsible for the investment of endowment funds. The board sets an investment policy, which is reviewed on a regular basis.  The investment objective is to ensure a steady stream of income from the funds, the preservation of capital and growth of capital over time.  Funds are tracked separately, but are pooled for investment purposes.  Individual funds are listed in the Foundation’s annual audited financial statements. 

The board engages independent investment managers.  The Foundation’s current investment managers are Burgundy Asset Management Ltd. and Letko Brosseau and Associates.  Funds established by donors are currently invested in the Burgundy Balanced Foundation Fund and the Letko Brosseau RSP Global Balanced Fund.

As a service to the arts, the Ontario Arts Foundation charges a low administration fee.  The current policy states that the combined administration and investment fee shall not exceed 1% of the market value of a fund.