History

The University of Toronto Asset Management Corporation (UTAM) was established on April 25, 2000 by the Governing Council of the University of Toronto as a separately incorporated investment management organization governed by its own independent Board of Directors.

Prior to this, the invested assets of the University were managed by the University’s Treasury Department and supervised by a volunteer committee – The President’s Investment Committee. At that time, the investments were largely passively managed.

UTAM was established as it was felt that a professionally staffed investment management organization could successfully incorporate active management and add value above passive returns after taking into account all fees and expenses.