Endowment Report

An endowment is a long-term investment in Mount Saint Vincent University which provides financial benefits primarily to students through scholarships, bursaries, and awards as well as funding for specific initiatives. For example research chairs and various programs.

Endowments are donated funds where the principal is invested and each year a portion (currently 4%) of the market value of the fund is paid out to support each fund’s purpose. Any earnings in excess of the distribution or “spending” are re-invested year after year to build the endowment’s value - growing and creating an enduring source of revenue in perpetuity for each fund’s designated purpose.

Annual endowment reporting ties to MSVU’s fiscal year (April 1 – March 31). At March 31, 2021, MSVU’s endowment was valued at

Mount Saint Vincent University’s Board of Governors is entrusted with the oversight of the endowment portfolio and has established an Endowment Management Policy. This policy sets out guidelines and procedures to ensure that the annual income continues at an adequate level to provide the support intended for each established fund. This policy is reviewed annually.

The Investment Committee is a standing committee of the Board of Governors whose work is guided by the University’s Investment Policy. The Policy creates a framework to maximize long-term returns and growth while protecting against shorter-term fluctuations. It establishes ranges for asset mix as well as benchmarks for performance evaluation. The Investment Committee is also responsible for reviewing and recommending to the Board of Governors the selection of qualified investment managers. The committee reports annually to the Board of Governors, recommending changes as required.

Jarislowsky Fraser Ltd. has been MSVU’s investment manager since 2004 and is recognized as one of Canada’s leading investment firms whose mission is to grow clients’ capital in a low-risk manner. Their focus on long-term capital preservation has safe-guarded and guided MSVU’s endowment fund through the volatile markets experienced in recent years.

For 2020-2021, total fees and expenses, including management as well as custodial and performance evaluation, totaled $148,589.31. This represents a cost of under 0.5% of the endowments market value. The spending rate for 2021-2022 was approved at 4.0%.

When you establish or contribute to an endowment, your donations can be directed towards specific areas of need, including, scholarships, bursaries and awards, library collections, academic programs and other priorities. You can establish an endowed fund as a named gift to honour or recognize an individual, corporation or association. These gifts are spent according to the terms established by the donors and continue to pay out in perpetuity.

To learn more about establishing or contributing to an endowment, please contact Anne Thibodeau at anne.thibodeau@msvu.ca or by phoning 902-457-6270.

Tom Nicolle (Chair) Jeff Alexander Tyrone Cotie Mary Dable Arab Kelly Gallant Denise Green Jeff Leblanc Ramona Lumpkin Anne McGuire Mustansar Nadeem Mona Power Cathleen Madgett (Resource) Kim Campbell (Recording Secretary)

Annualized Performance (%) as at March 31, 2021

1 Year 2 Years 3 Years 4 Years 5 Years 10 Years Inception*

MSVU Endowment Fund 23.6 9.6 8.5 7.3 7.9 8.9 7.4 MSVU Women’s Chair 23.6 9.6 8.5 7.3 7.9 9.0 7.5 MSVU Benchmark 22.0 8.5 7.8 6.9 7.6 7.3

Canadian Equity S&P/TSX

U.S. Equity S&P 500 (C$)

International Equities MSCI EAFE (C$) - Net 45.5 11.3 10.7 8.0 9.4 8.2 44.2 11.2 10.2 8.0 10.1 6.0 -

36.5 15.0 14.5 12.5 13.3 16.2 38.1 17.0 15.8 14.4 15.6 16.9 -

23.8 10.5 7.5 8.5 10.1 10.2 27.7 7.9 5.1 6.6 8.2 8.3 -

Emerging Markets Fund 47.3 13.4 9.7 12.2 13.2 MSCI Emerging Markets Net C$ 39.9 10.8 5.6 9.2 11.4 -

Bonds FTSE Canada Universe 3.4 3.8 4.2 3.5 3.3 4.5 1.6 3.0 3.8 3.2 2.8 4.0 -

Fixed Income Core Plus Fund 8.0 4.6 4.5 3.9 4.4 FTSE Canada Universe 1.6 3.0 3.8 3.2 2.8 -

* The Inception Date for the Fund is November 30, 2004. The start date for Emerging Markets in the account is October 16, 2017. The start date for Fixed Income Core Plus in the account is April 8, 2019.

At March 31, 2021

Canadian Equity 23.9%

U.S. Equity 20.4%

International Equity 18.7%

Emerging Markets Equity 3.1%

Bonds 31.0%

Cash 2.7%

The following chart reflects the market value of the University’s General Endowment Fund over the last 10 years at March 31st of each fiscal year end. Fund fluctuations are due to fund performance, spending allocations, and donor investment.

2020-21

My association with the Mount has been a long one, being an integral part of my adult life and providing opportunities I would never have had at another university. My husband and I have made provisions through gifts in our Wills and a life insurance policy that will not only provide donations much larger than we would be able to contribute in our lifetime to MSVU and other charities important to us, but will also ensure future generations of MSVU students are afforded the same opportunities. I encourage others to consider the potential and the impact of their philanthropy with legacy giving.

Dr. Rosemarie Sampson, BSc ’63, BA ‘68 Professor of Psychology, Psychology Department Chair, Dean of Professional Studies, Senior Advancement Associate and Planned Giving Officer (1973 – 2007) Board of Governors Member (2021 – present) Donor (1979 – present) 1873 Society Member (MSVU’s legacy giving recognition circle)

For more information about making a legacy gift or to let us know that you have remembered MSVU in your estate plans, please contact Anne Thibodeau at 902-457-6270, anne.thibodeau@msvu.ca or visit alumni.msvu.ca/legacygiving