The Trent University Board of Governors held its first regular meeting of the academic year on October 8, 2021, with the following highlights:

In her introductory comments, Board chair Debra Cooper Burger made special mention of ceremonies at both Trent campuses to commemorate the inaugural National Day for Truth and Reconciliation. Leaders, elders and traditional knowledge keepers from local First Nations joined Trent staff and students to unveil the new treaty rock outside Bata Library at the Symons campus in Peterborough, and a new treaty wall in the front atrium at the Durham GTA campus.

SG Endowment Fund Strategy

Board members were presented with Trent’s Endowment Fund Strategy and approved an asset mix of 25% fixed income, 50% equities and 25% alternatives. This mix significantly improves all risk metrics, provides a good inflation hedge with significant exposure to equities and alternatives. Depending on risk tolerance, this may also provide flexibility to change the spending policy.

The presentation highlighted a move toward an active investment strategy that will prioritize socially and ecologically responsible investments (ESG). The committee received Board approval to proceed with the search for necessary managers whose ESG expertise will be taken into account.

Audited Financials

The Board reviewed and approved the audited financial statements for fiscal year 2020/21 and noted that the financial statements present fairly, in all material respects, the financial position of the University as of April 30, 2021. The University’s operating fund ended the fiscal year with a nominal surplus of $0.1 million before fair value and pension actuarial adjustments. This financial result was primarily due to tuition-only enrolment growth.

Governor Emeriti

Trent University’s Board of Governors approved the appointment of alumni Garry Cubitt ’67 and Armand La Barge ’95 as governor emeriti effective July 1, 2022. These honorific titles are reflective of Mr. Cubitt and Mr. La Barge’s tremendous leadership and contributions during their board tenure. Mr. Cubitt has served as chair of both the External Relations & Advancement Committee and the Audit & Finance Committee, and is know for his passionate and dedicated support as a driving force with the development and growth of the Trent Durham campus. Mr. La Barge served in a number of leadership capacities with Trent University’s Board of Governors, most recently as the chair of the Board. Mr. La Barge’s extraordinary commitment and ambassadorship has further enhanced the University’s reputation.