Your Municipality can access the Prudent Investor Standard through ONE Joint Investment Board (ONE JIB)
ONE Investment is marking the third anniversary of its Prudent Investment Program and the ONE JIB.
ONE created the program to ensure that any municipality in Ontario, regardless of size, can take advantage of the Prudent Investor Standard.
As budget pressures continue to grow, municipalities increasingly realize that prudent investing is the best way to ensure better long-term risk-adjusted returns to help meet their capital and other needs.
The ONE JIB is comprised of municipal and financial market experts and is charged with managing each municipality’s investment portfolio based on their specific goals and risk profile. At the end of 2022, the Prudent Investment Program was managing more than $580 million for nine municipalities.
Here are three key takeaways from the first three years of the program:
- ONE JIB is proven to provide municipalities of any size highly effective support and confidence in prudent investments.
The program has grown from six municipalities to nine, ranging in population from as little as 2,000 to more than 100,000 residents. More municipalities are exploring joining the program.
ONE JIB remains the only joint investment board available to any Ontario municipal governments that wants to invest under Prudent Investor. In an era of global social and economic uncertainty, the ONE JIB provides a steady hand on investments with a focus on the long-term.
- ONE has created a process to make it easier for municipal treasurers, with an Investment Advisory Services team, working groups, and templates for each step.
Given the work load of municipal finance staff, the ONE team has found that establishing working groups of interested municipalities offers both ONE staff expertise and peer support.
The Investment Advisory Services team works directly with municipalities on turning long-term plans into investment strategies and policies. Template reports and other tools make it easier to educate and inform Councils through the process.
- ONE provides strong oversight to ensure compliance and the highest ethical standards.
Municipal staff and councils can have comfort and confidence in ONE’s solution that meets all provincial requirements for municipalities under the Prudent Investor Standard. The ONE JIB conducts an annual review with an Independent Integrity Commissioner, who has confirmed that ONE JIB and its fund managers have high ethical standards and integrity.