Thunder Bay Joins Prudent Investor Program
The City of Thunder Bay has joined ONE’s Prudent Investment Program, joining eight other Ontario municipalities who are pooling investments to build more diverse portfolios.
Since mid-2020, ONE Investment’s Prudent Investment (PI) Program has offered municipalities of any size a turnkey solution to take advantage of the broader investment powers allowed by the province under PI legislation.
The City made the decision to pursue Prudent Investor with ONE after careful analysis, including investment modeling that showed PI can generate more positive returns compared to Legal List investments.
“Municipalities have limited revenue sources, and this represents a significant revenue opportunity,” said Mayor Bill Mauro.
Director of Financial Services Emma Westover noted that the transition would better manage risk because the City will have a more diverse portfolio with global exposure and less reliance solely on Canadian markets.